I highly recommend Richard Murphy's recent blogs on the coalition's attempt to make a deal with the Swiss government, which essentially means big businesses who try to evade paying their taxes by using tax havens abroad will not pay the 20, 40 & 50% tax that we individuals have to, but rather, closer to a meagre 3.75% tax.
Now, it's up to you whether you think this is fair, that an individual citizen has to pay 20 - 40% tax on their income while a big business has only to pay 3.75% tax.
Have a read of Richard's blog and see what you think. I admit the situation is a complex one. Richard sees this as the coalition's attempt to scupper the EU's attempt to completely do away with tax havens by demanding an end to the secrecy that is the basis of Swiss banking. Others see this as the UK's attempt to at least get some tax back (a mere 3.75%!), arguing that the EU's deal was never going to happen. Richard is adamant that one way or the other this is legitimising criminality. In that, he is totally correct. He is also correct in arguing that this is one major way the rich filter money from the poor to the rich, as such "breaks" are not available to the typical worker/individual income earner. (Swiss banks usually have a £100,000 deposit limit etc.).
So, personally, this is a reason to get angry, and do something.
On a final note, I find Richard often has what feels like a rather rude manner, but I essentially agree with his fundamental point: Tax Evasion is a crime, and the government's latest attempt to cut a deal with the Swiss effectively legitimates criminality. If looters get 6 months for robbing 6 bottles of water, how come businesses get away with robbing millions of pounds worth of taxes from us, UK citizens, every year? It doesn't make sense. We need to have a level playing field, and soon! So, just ignore his rudeness, or what he calls his "robust" responses. His heart's in the right place. Bless.
Here's a place to get started: Let’s not get personal – this is a matter of right or wrong by Richard Murphy
Now, it's up to you whether you think this is fair, that an individual citizen has to pay 20 - 40% tax on their income while a big business has only to pay 3.75% tax.
Have a read of Richard's blog and see what you think. I admit the situation is a complex one. Richard sees this as the coalition's attempt to scupper the EU's attempt to completely do away with tax havens by demanding an end to the secrecy that is the basis of Swiss banking. Others see this as the UK's attempt to at least get some tax back (a mere 3.75%!), arguing that the EU's deal was never going to happen. Richard is adamant that one way or the other this is legitimising criminality. In that, he is totally correct. He is also correct in arguing that this is one major way the rich filter money from the poor to the rich, as such "breaks" are not available to the typical worker/individual income earner. (Swiss banks usually have a £100,000 deposit limit etc.).
So, personally, this is a reason to get angry, and do something.
On a final note, I find Richard often has what feels like a rather rude manner, but I essentially agree with his fundamental point: Tax Evasion is a crime, and the government's latest attempt to cut a deal with the Swiss effectively legitimates criminality. If looters get 6 months for robbing 6 bottles of water, how come businesses get away with robbing millions of pounds worth of taxes from us, UK citizens, every year? It doesn't make sense. We need to have a level playing field, and soon! So, just ignore his rudeness, or what he calls his "robust" responses. His heart's in the right place. Bless.
Here's a place to get started: Let’s not get personal – this is a matter of right or wrong by Richard Murphy
And if you are in any doubt about options available to the uk governemnt see the following link:
This link shows how India was able to sign an alternative deal to the uk-swiss treaty.
