It is not necessary for transnational corporations to move operations to avoid taxation. Location of "profit" or "value added" is a matter of bookkeeping between parents and subsidiaries, and the corporation has more (and better) accountants and lawyers than the tax collectors.
Steve Russell > ---------- > > > On Monday 10 February 2003 23:59, Jonathan wrote: > > Probably a naive question, but here goes... > > Wouldn't Jessop's proposal just encourage companies to move offshore, > > or obtain their financing abroad? > ----------------------------------------------------------------------- > > I don't think it would lead to that any more than any increases or changes in > tax rates, which happens periodically in any economy. The proposal, when > fully developed, should lead to complete neutrality from the capital > investment point of view, as it does form the consumers POV. > > Jessop. > -------------------------------- > > Jonathan > > > > >>> [EMAIL PROTECTED] 02/08/03 06:19AM >>> > > > > On Saturday 08 February 2003 01:56, you wrote: > > > For some reason I find the notion very appealing of 100% > > > reserves with the Central Bank lending the bank the reserves > > > at either the base rate of 50% of the loan rate, with the > > > share of the interest payments to the central bank distributed > > > automatically as a social dividend. > > > > ----------------------------------------- > > > > I proposed a simplified tax system in a chapter of 'my book' The Good > > Country > > (still in production!) which I sent to our Minister of Finance. I > > received a > > reply from the Chief Director: Tax Policy giving all the reasons why it > > could > > not be considered, the main ones being the difficulties of changing to > > any > > new system, and the need to comply with WTO standards. I understand > > that, and > > would have been very surprised had they given it any serious > > consideration. > > > > I had proposed it as a complete system, eliminationg all other forms of > > tax > > and revenue collection --- income tax, VAT, duties, excise tax. I > > hadn't > > thought that a partial implementation could be possible, but your > > comment > > makes me think otherwise -- it could provide funds for the social > > dividend, > > while leaving the normal tax apparatus in place. > > > > The idea -- which I would call the 'Joseph' system is set out in the > > attached > > .html document. It is, of course, a 'suggestion in principle' which > > would > > still need a lot of thought and refinement. In the light of recent > > discussions > > with you on the Social Credit List, there are some things I would > > alter, but > > the basic idea would hold. > > > > Jessop. > > ------------------------- > > > > ==^^=============================================================== This email was sent to: archive@mail-archive.com EASY UNSUBSCRIBE click here: http://topica.com/u/?a84IaC.bcVIgP.YXJjaGl2 Or send an email to: [EMAIL PROTECTED] TOPICA - Start your own email discussion group. FREE! http://www.topica.com/partner/tag02/create/index2.html ==^^===============================================================
