‘“UK Uncut worries people like me,” says a multinational executive. “It shows how much raw anger there is out there. It would be understandable if the facts were right." He complains about ignorance over how much tax business actually pays in Britain – at least £150 billion from all levies, more than one-quarter of all tax revenues. He acknowledges, however, a failure by companies to explain their strategies: “It is very hard to explain a tax structure without looking guilty.”
‘For governments dealing with the aftermath of the recession … it has become evident that globalisation has wrested control of multinationals’ tax affairs from the state’s hands, allowing companies unprecedented scope … New business models are ratcheting up [disputes between governments]. In the past decade, large multinationals have increasingly moved their “intangible” assets – such as patents, brands, treasury operations, all of which account for a big share of taxable profits – to low-tax countries.’
‘“UK Uncut worries people like me,” says a multinational executive. “It shows how much raw anger there is out there. It would be understandable if the facts were right." He complains about ignorance over how much tax business actually pays in Britain – at least £150 billion from all levies, more than one-quarter of all tax revenues. He acknowledges, however, a failure by companies to explain their strategies: “It is very hard to explain a tax structure without looking guilty.”
‘For governments dealing with the aftermath of the recession … it has become evident that globalisation has wrested control of multinationals’ tax affairs from the state’s hands, allowing companies unprecedented scope … New business models are ratcheting up [disputes between governments]. In the past decade, large multinationals have increasingly moved their “intangible” assets – such as patents, brands, treasury operations, all of which account for a big share of taxable profits – to low-tax countries.’
