spotArguments for socialism

spotCapitalism

spotGlobalisation Anticapitalism

spotMarxism


All keywords


Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

Capitalism keywords:

1929 (2)

Asset-stripping (8)

Austerity (1065)

Bankers (107)

Banking crisis (14)

Bear Stearns (3)

Bonuses (58)

Bourgeois (4)

Brexit (60)

British economy (17)

British politics (9)

Budget (315)

Capitalism (850)

Capitalist (621)

Carry trade (1)

Coalition government (24)

Competition (26)

Credit crunch (19)

Debt (204)

Depression (18)

Economic crisis (72)

Economy (408)

Enron (2)

Euro (43)

Famine (2)

Great Depression (7)

Hedge funds (9)

Import controls (1)

Inflation (35)

Interest rates (26)

Jpmorgan (1)

Keynesian (7)

Keynesianism (4)

Lisbon Treaty (9)

Marriage (7)

Mortgages (21)

Northern Rock (32)

Oil (280)

Oppression (42)

Populism (2)

Private equity (11)

Profit (75)

Profit system (27)

Recession (120)

Rich (238)

Shares (18)

Shell (8)

Short-selling (2)

Social class (3)

Software (2)

Stock market (10)

Stock market crash (3)

Sub-prime (12)

Sub-prime market (2)

Subprime (10)

Tax (554)

Technology (22)

Universal Credit (6)

Wealth (62)

Wealth gap (14)

World economy (55)

capitalist crisis (29)

capitalist system (31)

Tax


Highlight keywords  |Print this articlePrint this article
From: The Socialist issue 959, 23 August 2017: Strikes get results

Search site for keywords: Tax - Nationalise - Amazon - Government - Economy - Shares

Amazon tax halves as revenues soar - nationalise now!

Amazon, photo Scott Lewis./CC

Amazon, photo Scott Lewis./CC   (Click to enlarge)

Laurel Fogarty

Tech giant Amazon paid 50% less tax in the UK this year compared to last year despite the company's turnover rising by 54%.

Amazon and other large multinational companies exploit loopholes in out-of-date tax law to pay lower corporation tax.

They avoid paying their fair share, costing billions in tax revenue worldwide, including in developing countries.

The rising value of Amazon stock, that made Amazon founder Jeff Bezos the world's richest man this year, also meant it owed less tax! The firm deducted the increased value of shares paid to staff from its taxable revenue. It also records most of its UK profits in the tax haven of Luxembourg.

For seven years, Tory-led governments have claimed the coffers are empty. They have said the money to fund the NHS, social care, libraries, to end the disgraceful public sector pay cap, simply is not there.

The tax loopholes exploited by companies like Amazon and Google throw this lie into sharp relief. It is the political will to take the stolen wealth back from super-rich corporations and individuals that is missing, not the revenue.

A Corbyn-led government promises to crack down on tax avoidance according to Labour's election manifesto. The Socialist Party supports this.

But a genuine socialist government would also take the commanding heights of the economy - the banks and top corporations - into public ownership under democratic workers' control and management.

Large corporations controlling the economy could have their production democratically planned for the benefit of the majority, not for the profit of a few.

Jobs, education, healthcare, and housing that should be afforded to every person would not be subject to the whims of a profit-seeking economy, enabled by a callous Tory government.






Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Related links:

Tax:

triangleYoung people being strangled by debts

triangleNasty party imploding...drive out the Tories

triangleThem & Us

triangleProblem gambling soars by 33%

triangleBlairite EU rebellion: no to the bosses' Single Market

Nationalise:

triangleNationalise to save jobs at BAE Systems

triangleTories wreck our NHS

triangleDefuse the consumer debt time bomb: nationalise the banks!

Amazon:

triangleAmazon workers living in tents

triangleCushy government job for Amazon boss

Government:

triangleRoyal Mail bosses block strike - back postal workers

triangleCampaign against political repression in Hong Kong

Economy:

trianglePowerful picture of the Port Talbot steel workers' struggle

Shares:

triangleSocialism 2016: Putting socialism on the agenda