Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
Labour revenue shadow doesn’t ‘like’ Facebook tax share
Posted on 29-Jan-2014 12:14 by Bill Bennett | Tags Filed under: Articles



It’s hard not to sympathise with David Clark.  The Labour spokesperson for revenue wants Facebook to pay its fair share of tax in New Zealand.

Clark suggested banning or filtering the online giant could be one way of  forcing Facebook to pay up.

Finance minister Bill English was quick to ridicule the idea. He describes a ban as “nuts”.

However, English shares Clark’s concern that Facebook doesn’t pay enough tax on the income it receives from New Zealand.

For the record the online giant paid just $28,000  in tax during 2012 on revenues of $790,000.

The world is waking up to the problem of large online corporations like Facebook avoiding local taxes in countries where they make money.

Google is famous for billing New Zealand advertising sales in low-tax Ireland and pushing the money through a string of countries in an arrangement known as the “double Irish Dutch sandwich”.

Other online companies have similar complex arrangements to avoid taxes.

This doesn’t just deny governments tax revenue, it also puts native companies in countries like New Zealand, Australia and the UK at a severe disadvantage when it comes to competing with rivals who have far lower tax overheads. This is potentially a bigger threat.

Realistically the only way this problem can be dealt with is at the global level. Even that will be difficult – the countries that win from these tax arrangements are in no hurry to stop whatever benefits they gain.

The post Labour revenue shadow doesn’t ‘like’ Facebook tax share appeared first on digitl.







comments powered by Disqus


Trending now »

Hot discussions in our forums right now:

iPhone 8/iPhone X, impressions?
Created by surfisup1000, last reply by kharris on 26-Sep-2017 17:20 (444 replies)
Pages... 28 29 30


Car pulling left - even after alignment
Created by Paul1977, last reply by Paul1977 on 26-Sep-2017 15:20 (47 replies)
Pages... 2 3 4


Driving an automatic - do you use one foot or both?
Created by geekIT, last reply by Aredwood on 25-Sep-2017 22:48 (143 replies)
Pages... 8 9 10


Auckland Airport fuel supply obliterated by digger
Created by Batman, last reply by kryptonjohn on 26-Sep-2017 18:37 (225 replies)
Pages... 13 14 15


Electrical standards question
Created by delroynitz, last reply by gregmcc on 26-Sep-2017 16:15 (15 replies)

Could a production electric car reach 500 KPH anytime soon?
Created by kingdragonfly, last reply by kotuku4 on 26-Sep-2017 16:32 (27 replies)
Pages... 2


vodafone shutting down email?
Created by FatFurryGuy, last reply by Rickles on 26-Sep-2017 15:31 (301 replies)
Pages... 19 20 21


Spam Text
Created by rendezvous, last reply by hio77 on 25-Sep-2017 22:00 (24 replies)
Pages... 2