The Socialist

The Socialist 23 August 2017

Strikes get results

The Socialist issue 959

Coordinate the strikes to defeat the Tories


Glasgow jannies win famous victory against council cutters

Bin workers - fighting back wins!

Hundreds evacuated after Labour council dismisses cracks in tower blocks

Amazon tax halves as revenues soar - nationalise now!


RMT and the Labour Party affiliation debate

Defiant Barts NHS workers fight to stop Serco sabotage

Three-week Argos distribution strike

BA poverty pay dispute enters new phase of action

McDonald's workers vote to walk out in historic strike

Bin workers say: Sack Suez, stop rubbish cuts!

PCS: strikes to defend jobcentres


US: neo-Nazi violence reawakens resistance

Lewisham 1977: When socialists and workers defeated the far-right National Front

Opposing the National Front in Grantham

Charlottesville solidarity


The Single Market: a neoliberal tool of the bosses


Come to Socialism 2017

Chatsworth ward campaigners demand answers

Vital women's services under threat

Hull youth festival

West Midlands Young Socialists fight for free education on results day

NHS campaign receives Labour Party backing


Mutinies and strikes: when Bolshevism threatened British bosses

The Socialist inbox

 
 
 
 
 

PO Box 1398, Enfield EN1 9GT

020 8988 8777

[email protected]

Link to this page: https://www.socialistparty.org.uk/issue/959/26003

Seach this siteSearch the site

Printable versionPrintable version

Facebook

Twitter

Home   |   The Socialist 23 August 2017   |   Join the Socialist Party

Subscribe   |   Donate   |   Audio  |   PDF  |   ebook

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Amazon and other large multinational companies exploit loopholes in out-of-date tax law to pay lower corporation tax.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


In this issue


What we think

Coordinate the strikes to defeat the Tories


Socialist Party news and analysis

Glasgow jannies win famous victory against council cutters

Bin workers - fighting back wins!

Hundreds evacuated after Labour council dismisses cracks in tower blocks

Amazon tax halves as revenues soar - nationalise now!


Workplace news and analysis

RMT and the Labour Party affiliation debate

Defiant Barts NHS workers fight to stop Serco sabotage

Three-week Argos distribution strike

BA poverty pay dispute enters new phase of action

McDonald's workers vote to walk out in historic strike

Bin workers say: Sack Suez, stop rubbish cuts!

PCS: strikes to defend jobcentres


Fighting the far right

US: neo-Nazi violence reawakens resistance

Lewisham 1977: When socialists and workers defeated the far-right National Front

Opposing the National Front in Grantham

Charlottesville solidarity


Socialist Party feature

The Single Market: a neoliberal tool of the bosses


Socialist Party reports and campaigns

Come to Socialism 2017

Chatsworth ward campaigners demand answers

Vital women's services under threat

Hull youth festival

West Midlands Young Socialists fight for free education on results day

NHS campaign receives Labour Party backing


Socialist readers' comments and reviews

Mutinies and strikes: when Bolshevism threatened British bosses

The Socialist inbox


 

Home   |   The Socialist 23 August 2017   |   Join the Socialist Party

Subscribe   |   Donate   |   Audio  |   PDF  |   ebook