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The Great Multinational Tax Rort - how we're all being robbed (Paperback, Ed)
Loot Price: R91
Discovery Miles 910
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The Great Multinational Tax Rort - how we're all being robbed (Paperback, Ed)
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List price R467
Loot Price R91
Discovery Miles 910
You Save R376 (81%)
Expected to ship within 9 - 15 working days
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Enough is enough In 2011, Amazon paid an effective tax rate of 0.5
per cent on its UK earnings of GBP3.35 billion. In 2013-14, Apple
Australia paid around $80 million in income tax on revenue of over
$6 billion. Multinational corporations have avoided trillions of
dollars of tax over the past 25 years. Tax avoidance is legal, but
its massive abuse by multinationals has had a devastating effect on
governments around the world, and has placed an unbearable burden
on individual taxpayers and on honest local competitors.
Multinational corporations generate profits in around 180 countries
around the world. They work hard to avoid, reduce, or delay their
tax obligations for as long as possible, and they generally
succeed. Sometimes they pay nothing or, at best, the percentage of
their multibillion-dollar incomes that they pay in tax is a lot
less than the percentage an individual worker pays. Four accounting
firms - PricewaterhouseCoopers, Ernst & Young, KPMG, and
Deloitte- are the global accountants and tax advisers for the
multinationals. They have been paid over $500 billion in the past
25 years to prepare annual accounts and to manage the
multinationals' tax affairs. The favourite tool of the 'Big Four'
accountancies to minimise tax for their multinational clients is
transfer pricing: a complex and confusing array of methodologies
and strategies that works to reduce tax or even avoid tax payments
altogether. The Great Multinational Tax Rort explains how transfer
pricing developed, and describes the strategies and tactics that
the Big Four global accounting firms use on behalf of their
voracious clients. Written by Martin Feil, one of the few
independent experts on transfer pricing and profit repatriation by
multinationals - a former poacher turned gamekeeper - this is a
call to arms for citizens and governments to restore a fair
taxation system.
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