The Parliamentary Public Accounts Committee has claimed that the UK taxman has failed to collect over £25 billion from big companies.
But whilst these ‘unresolved tax bills’ are left forgotten HMRC has continued with a programme of virtually hounding the ordinary taxpayer and business community with backdated tax demands to fill the Treasury’s black hole.
To make matters worse, HMRC is hiding behind the law to prevent the details of the ‘sweetheart’ deals that it made with some big firms from coming under scrutiny says the Guardian.
It appears that Goldman Sachs got £20 million reduction in their tax bill due to a mistake and Vodafone only paid £1.25 billion out of a possible bill of at least £6 billion.
This news that the ordinary person in the street is treated more harshly than big corporations in some sort of secret star chamber set-up will not go down well with the general public and their vitriol may well be aimed at the government, which is desperate to raise every penny it can in these straitened times. http://www.economicvoice.com/hmrc-taxation-double-standards/50026699#axzz1hUjVsKe4
While the UK tax authorities hunt down ordinary citizens for every penny of tax, the big corporations act like gangsters and refuse to pay what is due. We all knew banks and corporations bribe politicians and the system is corrupt this example re enforces the point.
Re: Big Corporations don't need pay Tax in UK while ordinary citizens are hunted down
Typical and hardly unique. Companies like Goldman Sachs have so many of the govt officials in all countries in their pockets that they have more influence than elected representatives
"You have to ask yourself why did those involved in making these deals think they had the power to not only shake hands on them but then effectively hide them from scrutiny."
They just manipulate 'regulations' under the radar at industry and even company specific levels - all this flies under the radar. So while the politicians are engaged in grand-standing with voter perception in minds, some of these companies are silently changing regulatory action to their benefits.
The only time they get caught is when they forget to send the dole to one of the politicos or don't give a job to some politico's driver's neighbor's cousin.
In 3rd world countries it is called corruption & bribing.In the US and UK they are more sophisticated and it is called effective "management of Regulatory Affairs".
Most companies have these EVP SVP or VP Regulatory Affairs - they have very little to do with compliance - their job is to mend and bend regulations
Re: Big Corporations don't need pay Tax in UK while ordinary citizens are hunted down
^ that's not true. All you have to do is read the newspaper - remember how many MPs got caught in expense reimbursement scandal? then came the NOWT scandal....it goes on. The Brits are the worst when it comes to corruption and immorality
Re: Big Corporations don't need pay Tax in UK while ordinary citizens are hunted down
^ funny though your question is rhetorical. In Britain I think the excuse...reason ....is quite teh direct opposite I think. the Brits believe their system of civil governance is so solid that they don't even recognize it when checks and balances fail. What's worse they have made a lot unethical practices into law so when convenient they will be 'legal' and other times they'll be 'ethical'.
Re: Big Corporations don't need pay Tax in UK while ordinary citizens are hunted down
^ that's not true. All you have to do is read the newspaper - remember how many MPs got caught in expense reimbursement scandal? then came the NOWT scandal....it goes on. The Brits are the worst when it comes to corruption and immorality
You wish! There are some checks and balances here hence the story has made it to the media. Corruption is evident in Pakistan from the top to the very bottom but in the UK it is not.
There is a system here at least can punish offenders. The UK is not corruption free but to compare it to Pakistan?
Re: Big Corporations don't need pay Tax in UK while ordinary citizens are hunted down
You wish! There are some checks and balances here hence the story has made it to the media. Corruption is evident in Pakistan from the top to the very bottom but in the UK it is not.
There is a system here at least can punish offenders. The UK is not corruption free but to compare it to Pakistan?
UK at least they collect a lot of tax, unlike pakistan
But UK is corrupt the leaders like david cameron are too close to the bankers and corporations and they have given tens if not hundreds of billion £ pounds to look after bankers when they lost on the casino style economic stocks and shares.
Now this story showing corporations don't pay full tax maybe only 1/4 of the bill of course people will be angry about this.
Pakistan is corrupt you see everywhere but in UK where people not hungry or as poor the corruption often take place at business level and is big numbers.
UK has olympics in 2012 how you think they get this by being nice and shaking everyone hand or by putting cash and bribery in those same hands?
