Pensioners forum LetsChat

Can someone explain this statement ?
GDP quarterly figures for low tax Ireland just in - GDP expanded by 6.3%.  Under @rishisunak
 nearest neighbours in UK plan to hand Ireland a 10 point competitive edge in corporate tax rates. Dublin has a bigger tech sector than Paris or Berlin, they're not there for the weather.

British corporation tax is higher than Ireland's I think.

Thank you Ashy, maybe it's me but I just didn't get what he was saying.  DOH more coffee....

Quote from: Ashy on August 09, 2022, 12:13:03 PMBritish corporation tax is higher than Ireland's I think.

Yes and planned to go higher. Result is big companies fiddle the books so that they earn their profits in low tax regimes and our tax man gets less that if he'd either left it as it was or cut it.

I don't know anyone who pays it. If I remember rightly the government of the 1970s put up taxes and some well paid people just upped and left.
Wilfred Hyde White comes to mind but he wasn't the  only one.

Corporation tax is not paid by individuals. It is paid by businesses on their profits. They do the same thing as the high paid individuals you mention but it's only the paperwork and tax take that goes overseas.

It's only people on PAYE that pay all their taxes.

(https://postimg.cc/T510qvMz)

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I have often thought if you work out all the tax take throughout any transaction it turns out that HMG actually end up with the lot.

Money - that stuff which brushes your fingers in its way to the Government
Mike

But the government proved that we don't need to pay any tax at all over the last two years. When they wanted money, hey presto, billions appeared from nowhere. Sunakonomics innit.