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Wednesday, 27 January 2016

Tax Avoidance, who are the real culprits?

I'd like to make a few points about the Amazon controversy over their Corporate Tax avoidance. And, the present case of Google. First of all, there are two types of avoiding the paying of tax, whether Corporate or Personal.

Tax Avoidance
Tax Evasion.

Tax evasion is illegal and heaven help you if you evade tax and come to the notice of the Inland Revenue. Apart from a highly likely prison sentence (our government hates competition) they'll be on your back for the rest of your life.

On the other hand, tax avoidance is perfectly legal. The tax rule book, at 17,000 pages, is ridiculously long and, has to be by definition, a crock of gold for skilled accountants, who will easily find ways of lessening their clients tax bill. The reason it has grown so long is crass laziness on the part of the government to do anything about it. Amazon's duty to its shareholders, is to pay as little as possible . And remember, if you have a private pension, it will consist of shares from all Corporates, who hire top accountants to minimise their tax payments. And probably your State Pension as well, they aren't going to put it in a bank!

I won't even talk about the EU allowing large corporations to pick the best EU country to base their head office in for tax purposes. But, most of my readers know my thoughts on the EU!

By all means get hot under the collar about the tax avoidance, but channel your ire to the culprits, our lazy British MPs!

Whilst we are on the subject of Amazon, I must admit I am a prolific buyer there. So much, that I do get preferential treatment when I am not satisfied with the goods and want to send them back.

In addition, I pay the seventy odd pounds a year to be a member of Amazon Prime. I get free delivery, and the next day for all Amazon products. And mostly, third party sellers, if they know you are on Prime, tend to get their goods off to you to receive them the next day, two at the most.

Amazon give you a £1 discount off any Kindle Book or digital music for each time you elect for a slower delivery. I try to do this seventy odd times a year so I get the Prime for free. In addition, Amazon allow Prime customers to stream huge amounts of music, I presently can stream about a thousand songs or classical music pieces. In addition, I have the Amazon Fire gadget plugged into my TV and can stream hundreds of films and television episodes for free.

The one good thing is, by being so successful, Amazon have been responsible for many firms offering an Internet shopping service. Just Google the huge Selfridge store in Oxford Street, in London. You will see they do Internet shopping and even offer click and collect if you are local and want to save on carriage.

Amazon, like Google, are hated, especially by the left. They feel it is obscene to be so successful. But these companies started with nothing, with an idea, that the early directors pushed into highly successful companies. These people hate success. Personally, I say, good luck to them. I shall continue to use Google and buy from Amazon.

Ampers

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