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Fair Tax Foundation @fairtaxfoundation.bsky.social · 3d

Although, there are some US MNCs that are not running scared on what tax they pay and where. The following US MNCs all have the confidence to implement the EU pCbCR fully. #pcbcr

Research finds US multinationals are increasingly laggards on tax transparency, in comparison to the UK and Japan - Fair Tax Foundation

Research reveals growing tax transparency gap between leaders and laggards, on public country-by-country reporting (pCbCR)

fairtaxmark.net

Fair Tax Foundation @fairtaxfoundation.bsky.social · 3d

Multinationals headquartered in the UK and Japan are far more likely to implement new European tax transparency rules with integrity compared with MNCs from the US & Switzerland. Stand-out laggards include Apple, Eli Lilly, Microsoft & Oracle #pcbcr

Trump administration wages war on corporate tax transparency whilst many US MNCs quietly embrace public country-by-country reporting - Fair Tax Foundation

Trump administration threatening to cut off funding to the FASB unless it abandons a modest push for extra corporate tax transparency. Yet, in parallel, many US multinationals are quietly getting on w...

fairtaxmark.net

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Fair Tax Foundation @fairtaxfoundation.bsky.social · 4d

How does the Fair Tax Mark help businesses stand out for all the right reasons? Mark Williams of Marshalls plc offers some thoughts!

Find out more here: fairtaxmark.net/why-get-the-fair-tax-mark/

#ResponsibleBusiness

Fair Tax Foundation @fairtaxfoundation.bsky.social · 6d

It's #GoodMoneyWeek and we would like to take the chance to celebrate our Fair Tax Mark certified financial organisations, who demonstrate that responsible business and the financial sector can go hand in hand! 👏

#UKSIF #ResponsibleFinance

Reposted by Fair Tax Foundation

Paul Monaghan @paulmonaghan.bsky.social · 11d

€800mn tax evaded via this one criminal scheme. Europe's chief prosecutor not mincing her words. Says: Chinese criminal groups were involved in most of the ongoing VAT fraud investigations.
on.ft.com/3KP1lcX

Greek customs broker caught with €3mn cash in China-linked fraud probe

Bloc’s top prosecutor says investigation highlights ‘massive’ criminal effort to avoid taxes and duties

on.ft.com

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Fair Tax Foundation @fairtaxfoundation.bsky.social · 12d

We love to celebrate our Fair Tax Mark certified businesses no matter what - but it's always sweet when we receive a little love in return! 🩷

Thank you to one of our most well-known (and well-loved) certified organisations LUSH for sending us these lovely goodies this week! 😊

#sweettreat

Fair Tax Foundation @fairtaxfoundation.bsky.social · 13d

We were featured in The Times last week, alongside other Good Business Charter organisations (and some Fair Tax Mark certified ones too)!

Join us - w/ 10% off Fair Tax Mark for GBC-accredited organisations: fairtaxmark.net/fair-tax-foundation-and-good-business-charter-partner-to-champion-fair-tax/

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Reposted by Fair Tax Foundation

Fair Tax Foundation @fairtaxfoundation.bsky.social · 18d

Phoenixism is rampant in the UK. Here's what it looks like:
- a business goes into admin with £2.9m debts, including £647k owed in tax
- 3 days later, acquired for initial £10k by venture created by previous owner, who pocketed millions in its final three years www.theguardian.com/politics/202...

Insolvent UK recruiter acquired by previous owner who took millions out

Premier Group Recruitment went into administration with debts of £2.9m – including £647,000 owed in tax

www.theguardian.com

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Fair Tax Foundation @fairtaxfoundation.bsky.social · 18d

Phoenixism is rampant in the UK. Here's what it looks like:
- a business goes into admin with £2.9m debts, including £647k owed in tax
- 3 days later, acquired for initial £10k by venture created by previous owner, who pocketed millions in its final three years www.theguardian.com/politics/202...

Insolvent UK recruiter acquired by previous owner who took millions out

Premier Group Recruitment went into administration with debts of £2.9m – including £647,000 owed in tax

www.theguardian.com

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Fair Tax Foundation @fairtaxfoundation.bsky.social · 18d

Our latest polling shows rising support for responsible corporate tax conduct and transparency - and for Government action that encourages this.

Read the full details here: fairtaxmark.net/uk-public-ca...

#ResponsibleBusiness

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Reposted by Fair Tax Foundation

Paul Monaghan @paulmonaghan.bsky.social · 24d

The US Chamber of Commerce never misses an opportunity to attack legislation that improves financial transparency. Now trying to kill not only improvements in US accounting and reporting standards, but progressive tax transparency legislation in other countries. www.linkedin.com/feed/update/...

Equally disappointing and predictable. The US Chamber of Commerce never misses an opportunity to attack legislation that improves financial transparency. They are now trying to kill not only… | Paul M...

Equally disappointing and predictable. The US Chamber of Commerce never misses an opportunity to attack legislation that improves financial transparency. They are now trying to kill not only improveme...

www.linkedin.com

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Reposted by Fair Tax Foundation

Paul Monaghan @paulmonaghan.bsky.social · 24d

"Serious questions need to be asked as to why Temu has such a negligible economic and tax footprint in the UK despite its enormous sales. The registered office in London is essentially a shell, with no staff and no long-term assets."
www.retail-week.com/fashion/temu...

Temu accused of paying ‘negligible’ tax in the UK despite ‘enormous sales’

Temu's UK arm has been accused of not paying corporation tax in the UK for two years despite enjoying "enormous sales" in the region, Retail Week can reveal.

www.retail-week.com

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Fair Tax Foundation @fairtaxfoundation.bsky.social · 24d

"Serious questions need to be asked as to why Temu has such a negligible economic and tax footprint in the UK despite its enormous sales. The registered office in London is essentially a shell, with no staff and no long-term assets." www.retail-week.com/fashion/temu...

Temu accused of paying ‘negligible’ tax in the UK despite ‘enormous sales’

Temu's UK arm has been accused of not paying corporation tax in the UK for two years despite enjoying "enormous sales" in the region, Retail Week can reveal.

www.retail-week.com

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Fair Tax Foundation @fairtaxfoundation.bsky.social · 25d

Impt to appreciate that:
- half of US MNCs simply got on with it and did what EU pCbCR asked for, to the letter (respect)
- Oz legislation doesn’t allow for anything like as much 'commercial confidentiality' wriggle room as EU (Ozzies basically have less bandwidth for evasive nonsense)

I.pt

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Reposted by Fair Tax Foundation

Fair Tax Foundation @fairtaxfoundation.bsky.social · 27d

Corporate tax rates worldwide continued their upward trajectory in 2024 as countries focused on raising their tax revenues to fund increased public spending, according to a new OECD report.
news.bloombergtax.com/daily-tax-re...

Corporate Tax Rates Jump for Second Straight Year, OECD Says

Corporate tax rates worldwide continued their upward trajectory in 2024 as countries focused on raising their tax revenues to fund increased public spending, according to a new OECD report.

news.bloombergtax.com

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Fair Tax Foundation @fairtaxfoundation.bsky.social · 27d

Corporate tax rates worldwide continued their upward trajectory in 2024 as countries focused on raising their tax revenues to fund increased public spending, according to a new OECD report.
news.bloombergtax.com/daily-tax-re...

Corporate Tax Rates Jump for Second Straight Year, OECD Says

Corporate tax rates worldwide continued their upward trajectory in 2024 as countries focused on raising their tax revenues to fund increased public spending, according to a new OECD report.

news.bloombergtax.com

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Fair Tax Foundation @fairtaxfoundation.bsky.social · 27d

Noteworthy that
- people who voted Reform at the last general election equally highly motivated on these issues: polling at 65% & 74% agreement respectively on each matter
- people who voted Labour at the last election exceptionally motivated on these issues: polling at 77% & 80% respectively

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Fair Tax Foundation @fairtaxfoundation.bsky.social · 27d

International Tax Review have picked up on our latest polling of the UK public, highlighting that:
- 69% want to see Big Tech continue paying a digital services tax; and,
- 74% support mandatory country-by-country tax reporting by multinationals.
www.internationaltaxreview.com/article/2fby...

Three-quarters of UK public support PCbCR: report

Over two-thirds of survey respondents back the continuation of the UK’s digital services tax, research commissioned by the Fair Tax Foundation also found

www.internationaltaxreview.com

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Fair Tax Foundation @fairtaxfoundation.bsky.social · 27d

Delighted to say that our latest research has found increased support among the UK public for responsible corporate tax conduct and for government measures which encourage this. fairtaxmark.net/uk-public-ca...

UK public call on Government to take firmer action to ensure business makes a fair tax contribution - Fair Tax Foundation

Research commissioned by the Fair Tax Foundation has found increased support among UK public for responsible corporate tax conduct and for government measures which encourage this.

fairtaxmark.net

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Reposted by Fair Tax Foundation

Fair Tax Foundation @fairtaxfoundation.bsky.social · Sep 12

We have been warning for years that phoenixing is a major issue in the UK. The chances of being caught are very small. And if caught, the penalties have been laughable to date. Beyond vital tax lost, it's difficult for legitimate small retailers to compete www.ft.com/content/5ef9...

HMRC raises small business ‘phoenixing’ tax loss to £836mn

Higher than previously estimated figure underlines challenge faced by UK agency in curbing losses

www.ft.com

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Fair Tax Foundation @fairtaxfoundation.bsky.social · Sep 12

We have been warning for years that phoenixing is a major issue in the UK. The chances of being caught are very small. And if caught, the penalties have been laughable to date. Beyond vital tax lost, it's difficult for legitimate small retailers to compete www.ft.com/content/5ef9...

HMRC raises small business ‘phoenixing’ tax loss to £836mn

Higher than previously estimated figure underlines challenge faced by UK agency in curbing losses

www.ft.com

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Fair Tax Foundation @fairtaxfoundation.bsky.social · Sep 11

In partnership with @GBCharterUK, we’re making it easier than ever for businesses with the Fair Tax Mark to seek GBC accreditation in the UK & vice versa!

Find out more here: fairtaxmark.net/fair-tax-foundation-and-good-business-charter-partner-to-champion-fair-tax/

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Reposted by Fair Tax Foundation

Fair Tax Foundation @fairtaxfoundation.bsky.social · Aug 28

Deloitte's latest international survey of corporate tax leaders has again found that the global tax policy landscape is dominated by "Transparency and Reporting". Furthermore, the vast majority (82%) expect increased pressure for public tax disclosure over the next 2-3 years.

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Reposted by Fair Tax Foundation

Paul Monaghan @paulmonaghan.bsky.social · Sep 6

My favourite bit of Shein's response... in connection with thier ultimate owner being based in the Cayman Islands...

"The spokesperson for Shein said: This is a standard, widely used corporate structure across industries."
www.theguardian.com/business/202...

Shein UK accused of moving ‘vast bulk of income’ to Singapore to cut British tax

Fast-fashion retailer rejects accusations as Fair Tax Foundation questions its tax arrangements

www.theguardian.com

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Reposted by Fair Tax Foundation

Paul Monaghan @paulmonaghan.bsky.social · Sep 4

Erm, £4.8bn of "their" £5.8bn "tax contribution" is tax collected not tax borne?! They are trying to take the credit for taxes other people are paying?!?!

And they still refuse to say how much corporate income tax they pay on their £29bn of UK revenue.
www.mirror.co.uk/money/amazon...

Amazon refuses to say how much profit it makes in the UK

Amazon has been accused 'tactically releasing' details about its financial dealings in the UK as it faces ongoing questions about its tax affairs

www.mirror.co.uk

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