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256
DnD Central / Re: Writing on the Wall for Tax Dodging Multinatinals?
The UK action is not limited to companies by the way. They are after individuals as well, those who have off shore accounts and those who "country-hop", staying in a country for less than 3 months at a time in order not to join the local tax club.
259
DnD Central / Writing on the Wall for Tax Dodging Multinatinals?
The UK is not unique from loosing out to business which make money from trading in the country but maintain inventive corporate tax structures to pretend that they have no or little revenue and divert their profits off shore or to a low tax country.

The UK has flagged its intention to cut down on this practice by employing a new tax law related to what they will call "Diverted Profits". For more information on this "Google Tax" (I wonder why!) - see this article: 'Google Tax' introduction confirmed

Under the new tax regime, companies with an annual turnover of £10m will have to tell HM Revenue & Customs (HMRC) if they think their company structure could make them liable for diverted profit tax.
Quote
Once HMRC (the Tax Office) has assessed the structures, and decided how much profit has been artificially diverted from the UK, multinationals will have only 30 days to object to the 25% tax.


The rate of 25% is above the new rate of proposed Corporation Tax of 20%.

Anyone have different approaches in their country?

268
Hobbies & Entertainment / Re: Films and Books
I've travelled from Moscow to St Petersberg (by train) but not the other way round - a story in itself that one.

Anyway the reason to reply to your note is to defend the Russians in what I thought an endearing aspect which is to be able to laugh at themselves. When I first went there it was at the time when depreciation of the rouble was at its worse, the rouble being significantly less at the end of a 4 day trip than at the beginning, and  when paying in US Dollars was more or less the norm for a foreign visitor and $20, for example,  would buy you the most wonderful meal with all the food and drink you could sensibly consume.  Also at that time it was so sad to see lines of people standing at the side of roads trying to sell their second-hand clothes, all the more so because those people were clearly the middle class whose financial world had collapsed and had previously been used to relatively better times.

In all of that, the humour I encountered amongst the Russians I worked with was normally about (topically) queues, scarcity of items in shops, and in fact the things which most of us would not really joke about in front of foreigners.

I'm sorry to see their world collapsing again.