Thursday, May 23, 2013

Yes Google is are Amazon, Starbucks and all such tax thieves

I was at a pension trustee meeting a little while ago where I was criticised for bringing up our share holding in companies who don't pay their fair share in taxes. I was told that it was the duty of such companies to reduce their exposure to all taxes.

I disagreed and while I didn't express my true views that these companies are spongers who steal from the old and the sick. I did point out that we expect companies we invest in to be well managed, aware of risk and run with integrity.

There is a balancing act to be made by companies on minimising their taxes while recognising they have a duty to pay towards in public services and infrastructure they rely on to run their company in the UK.

The negative publicity and financial damage to the brand if they misbehave is also immense. 

If they get this balance wrong then the CEO and the Board are simply incompetent as well as immoral and not fit and proper people to run the company.


Anonymous said...

It is ironic, your blog should be hosted on Google's blog!

In a perverse sense, Google is robbing from the Government to give freebies to the poor.

Although, I agree with you, there is wholesale tax evasion and it is not right that some people are paying higher rates of tax, whilst corporations manage reshuffle their tax profits.

The UK is one of the biggest tax havens in itself, but not if you are a UK citizen.....

John Gray said...

fair point anon - I have made a commitment to move to wordpress because of this. Just need to get my head around it.