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December 4, 2012 11:24 pm
From Mr Stephen Porter.
Sir, The duty to pay corporation tax on profits should never be a moral or ethical one, and those of us in onshore small companies which by law are obliged to pay corporation tax on our profits have every right to be cynical about the UK government’s pathetic claim that it would be difficult to force multinationals to pay this tax on the profits they make in the UK.
An easy, simple and effective measure to start the ball rolling would be to legislate to treat all multinational company statements to shareholders concerning profits, as general tax declarations, about which HM Revenue & Customs would be entitled to ask for clarification in detail.
This would prevent certain companies from telling their shareholders that they are making very substantial profits in the UK, while at the same time declaring none to HMRC.
Stephen Porter, Arthistorical, London W1, UK
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