© The Financial Times Ltd 2015 FT and 'Financial Times' are trademarks of The Financial Times Ltd.
December 10, 2012 10:34 pm
From Mr Mark T.J. Molyneux.
Sir, Steve Bye (letters, December 10) makes an interesting suggestion that a list of 100 top taxpayers is created, but it is unclear whether this is limited to the payment of income taxes. To fully appreciate the money generated by a company for the state, all taxes should be recorded – not just corporation tax but also, for example, irrecoverable value added tax charged on goods and services, income tax and national insurance paid by their employees, stamp duties and local property taxes – all of which would be zero if the company did not exist.
Starbucks missed a trick in not highlighting the aggregate payments its company provides to the exchequer rather than focusing on its small and legal corporation tax bill. It is a mistake from which others can learn, and could lead to a better understanding of the contribution made by business to the income of government and the wealth of the country.
Mark T.J. Molyneux, Monmouth, UK
Please don't cut articles from FT.com and redistribute by email or post to the web.
Sign up for email briefings to stay up to date on topics you are interested in