Sunday, November 21, 2010

It’s Tax Avoiders Who Are Anti-Capitalist ...

Apparently an article in the Daily Telegraph states that the action against Vodafone (any any other tax dodgers) for their illegal tax dance is 'an anti-capitalist movement that is bringing chaos to high streets across Britain. '

Does The Telegraph have an agenda here? I noticed many adverts for Vodafone in yesterday's edition. Perhaps they are more concerned with losing a lucrative long-term customer than printing the truth.

To clarify, decent tax payers simply insist that companies pay the correct amount of UK tax in relation to their UK profits. We demand that;
  1. Seek to uphold the rule law;
  2. Minimise risk for their shareholders by being tax compliant, as is their duty;
  3. Reduce the cost of tax collection in the UK;
  4. Do not abuse the tax sovereignty of the UK by routing transactions through tax havens;
  5. Do not abuse monopoly power;
  6. Do not create artificial barriers to entry for competitors by exploiting tax advantages only available to established companies
  7. Be corporately socially responsible;
  8. Pay the taxes that their customers, employees, suppliers, and stakeholders are all dependent upon for the provision of the services that they expect in accordance with the democratic mandate that the people of the UK have provided to the government.
 Hardly anti-capitalist to obey the law.

Read more on the Tax Research Site ... It’s tax avoiders who are anti-capitalist.