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| Authored by: Anonymous on Tuesday, December 18 2012 @ 04:33 PM EST |
| Is M$ being taxed the same way? [ Reply to This | Parent | # ]
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| Authored by: Anonymous on Tuesday, December 18 2012 @ 06:59 PM EST |
The biggest problem with international companies is that they actively evade
their tax obligations placing a greater burden on ordinary citizens. In my view
it's unethical, immoral and should not be allowed.
Multinationals use transfer pricing and distribution fees, being just two of the
mechanisms, to shift money to a foreign affiliate located in a lower (or no tax)
jurisdiction. It's not uncommon for companies making billions in one
jurisdiction to play little or no tax using such mechanisms. So it's time that
multinationals paid their dues just like the rest of us.
But for India to avoid any perception of bias against any one multinational,
best to go after all multinationals since they all practice the same mechanisms
to avoid their tax obligations.
Really it's time the tax system was overhauled to remove the requirement for an
army of accountants just to administer the books. I prefer a simple very low tax
on turnover (without deductables) as this could generate an equitable tax take
without the huge wiggle room that such complex systems allow. Sell some widget
or service for $100, pay $1 tax regardless of the cost of selling the widget or
providing the service. A child could administer such a tax system. But where
would all the multinationals go???[ Reply to This | Parent | # ]
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