Hi Malc,

 

I came across this on SKY news:

3:55pm UK, Tuesday October 11, 2011

 

TAX Avoidance Scandal

Only two of the 100 top British companies listed on the FTSE 100 List pay British Taxes.

 

Nearly all of Britain’s biggest companies legally* avoid tax in the UK, including the state-backed Royal Bank of Scotland and Lloyds Banking Group, according to new research.

 

Action Aid found that 98 out of the 100 companies on the FTSE 100 base their operations in territories where there is low or no tax.

 

Read full report here:

http://news.sky.com/home/business/article/16086749

 

—————————-

 

So, the RBS borrows £32bn from UK taxpayers, yet pays no tax on it’s profit. It’s a joke!!

 

 

Regards,

 

Tony

 

 

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(legally* see unanimous findings of research leading to the book and film ‘The Corporation’ which concluded that the profile of the ‘legal person’ of the typical corporation is PYSCHOPATH. not the Hollywood shower curtain and bloody knife version but the real world clinical psychopath. do a general search or go straight here –

http://inquiringminds.cc/a-corporation-is-a-person-we-should-have-them-sectioned-as-psychopaths-the-corporation-full-length-documentary

-or here –

http://www.sott.net/articles/show/191229-Truth-to-Power-Psychopaths-Rule-Our-World

- or here –

http://www.activistpost.com/2011/05/do-psychopaths-misrule-our-world.html

– or even here –

http://ponerology.blogspot.com/

 

-  Malcolm)

sorry to hijack your post Tony but you have thankfully pointed people in the logical direction, essential fact is they have created a legal system which allows them to avoid paying tax while the rest of us struggle. My own view is the psychopaths created ‘the corporation’ (limited company) in their own image. – Once we consider the possibility nay probability that our world is run by psychopaths all the pain and suffering, anxiety and depression, broken relationships and families, failing public services, wars, greed and exploitation of the planet begins to make sense but is no less offensive. – Malcolm.

here’s the article

————————

Nearly all of Britain’s biggest companies legally avoid tax in the UK, including the state-backed Royal Bank of Scotland and Lloyds Banking Group, according to new research.

Action Aid found that 98 out of the 100 companies on the FTSE 100 base their operations in territories where there is low or no tax.

The heaviest users were based in the financial sector despite the industry’s role in the economic crisis.

Britain’s four biggest banks – HSBC, Barclays, Lloyds and RBS – have 1,649 tax haven companies between them.

But with 611 subsidiaries in tax havens, advertising giant WPP tops the list.

Broadly a state or territory is considered a tax haven if it offers a low or zero rate of tax as well as a politically and economically stable environment to companies and individuals.

The UK has a number of these regions under its jurisdiction, including Jersey, Guernsey and the Isle of Man.

The charity says the practice is having a massive impact on both rich and poor countries, with developing nations losing three times more to tax havens than they receive in aid each year.

The only two firms on Britain’s main share index that did not avoid tax in this way are precious metals miner Fresnillo and Bristol-based financial services provider Hargreaves Lansdown.

Action Aid’s tax justice expert Chris Jordan told Sky News that the UK could be missing out on £18bn a year in tax revenues due to the practice.

He said: “Tax havens have a damaging impact on the UK exchequer, the stability of the international financial system, and vitally on the ability of developing countries to raise tax revenues which would lift them out of poverty and make them less dependent on aid.

“When multinationals use tax havens to avoid paying their fair share, ordinary people in both poor and rich countries are left to pick up the bill. Spending on doctors, nurses and other essential services gets cut for those who need it most.

“Tax havens might provide the lure of financial secrecy and low tax rates for big companies, but at a time when all countries are desperate for revenues, the UK government can’t afford to turn a blind eye.”

Hi Malc,

I came across this on SKY news:
3:55pm UK, Tuesday October 11, 2011 

TAX Avoidance Scandal
Only two of the 100 top British companies listed on the FTSE 100 List pay British Taxes.

Nearly all of Britain's biggest companies legally avoid tax in the UK, including the state-backed Royal Bank of Scotland and Lloyds Banking Group, according to new research. 

Action Aid found that 98 out of the 100 companies on the FTSE 100 base their operations in territories where there is low or no tax.

Read full report here:
http://news.sky.com/home/business/article/16086749

So, the RBS borrows £32bn from UK taxpayers, yet pays no tax on it's profit. It's a joke!! 

Regards,

Tony

Related articles

• British firms attacked for routine use of tax havens (jhaines6.wordpress.com)
• 98 FTSE firms ‘use tax havens’ (mirror.co.uk)
• Tax havens and the FTSE 100: the full list (guardian.co.uk)
• One law for us and another for them! – All But Two FTSE 100 Firms ‘Avoid Paying Tax’ (inquiringminds.cc)