Saturday 20th of April 2024

playing tax evasion...

 

playing tax evasion

People love how cheaply and efficiently Jeff Bezos sells and delivers product to their door. So much so that his net worth, as the founder and chief executive of Amazon, is about $US30 billion ($34 billion).

Yet Bezos concerns himself with how much time his employees spend going to the toilet. The workers in his many warehouses, known as pickers, are constantly monitored.

Bezos is a tax avoider. In Australia, Amazon may deliver goods cheaply and quickly, which is a significant good for consumers, but the company pays little tax on the hundreds of millions of turnover it has in Australia, while undermining local businesses small and large. Amazon prefers to leave tax paying to its customers.


Read more: http://www.smh.com.au/comment/corporate-scrooges-hide-trillions-of-dollars-20141116-11nq0b.html#ixzz3JNbC4SuE

 

a profitable industry...

High-quality tax lawyers are expensive and in demand. Tax avoidance is a massive industry. A corporate behemoth with a market capitalisation of, say, $172 billion, and with a long record of brazen denial and litigiousness on tax matters, can afford to wage "lawfare" with the Tax Office, paying high-quality lawyers (with a fraction of the money it saves on tax).

The challenge is for the Tax Office to mount a big case, and win it, and for the Abbott government to have the wit and the will to exploit a symbolic battle against Scrooge.


Read more: http://www.smh.com.au/comment/corporate-scrooges-hide-trillions-of-dollars-20141116-11nq0b.html#ixzz3JNjmexRV