Company FairTax emblem
Similar to the 'FairTrade' emblem, companies that pay their fair due in tax for doing business in the UK would be awarded the emblem. Many smaller UK companies would get this by default when they don't do any (or a very small percentage) of overseas business.
The goal is to stop global multi national corporations doing business in the UK and then funnelling their business through foreign subsidary companies therefore paying minimal tax in the UK. Examples include Apple, Amazon etc. The Amazon example is of only paying £124 million in tax on £7 billion of revenue from the UK.
If you want to do business in the UK you must support the UK too.
Mike Saunt
shared this idea
7 comments
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Renato Rodrigues
commented
It is a good idea but I think it needs a bit of expert advice. What would be the definition of FairTax? Would this even be legal for HMRC to do? Tax Justice Network and others are the experts on this. Maybe this could even be something to be implemented by an independent charity
My campaign is about the core of the Tax evasion cancer. I welcome your comments
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Mike Saunt
commented
Like it - perhaps if multi-national then need have the Fairtax stamp of approval...
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Anonymous
commented
How about 'companies that use tax havens cannot apply for government contracts'?
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Mike Saunt
commented
Minimal as I'd hope companies would want the badge and they could let the HMRC know who would then determine whether worth investigating...
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gingerbbm# commented
Sounds good - but what will it cost to implement?
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Anonymous
commented
Great idea.
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Anonymous
commented
Agree completely!
