| Topic: | Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Re:Facebook Pays Less Tax Than You Do | |
| Posted by: | Cllr Sam Hearn | |
| Date/Time: | 13/10/15 14:33:00 |
| Of course the UK subsidiary of Facebook would have paid corporation tax if it had not paid such a massive bonus to its staff - again it is entirely legitimate to do this but by paying the bonus in company shares it probably avoided any national insurance payments. There is surely a strong argument for abolishing national insurance and merging it with income tax? This would be a genuine and massive simplification of the UK taxation landscape. There would also need to be a new payroll tax to replace the employers' element of NI - a good example of the potential pitfalls that tax "reform" can lead to. |