4 ms·

Speaks volumes why Obama wants the UK to remain in the EU. His corporate handlers know that it is inevitable that taxes will increase if there is a Brexit.

fredley 11y ago
I would have thought remaining in the EU would result in (eventual) greater regulation, and Brexit would make the situation worse (for non-corporations).
- ryanlol 11y ago
  Are the people taking advantage of these arrangements non-people?
vidarh 11y ago
That makes no sense. The EU countries with higher tax levels are constantly pushing to reign in the EU "tax havens", whereas outside the EU, the UK will be free to use even lower tax rates and more tax breaks as a means of retaining and attracting international business, and may need to, in order to prevent an exodus from the City etc.
- varjag 11y ago
  To be fair, exiting EU would put the UK at disadvantage as EU tax heaven / headquarters beachhead. Common customs and VAT space goes out of the window, as well as hundreds other compliance regulations tying the EU together. Luxembourg and Cyprus will certainly get a lot of new business. But I really doubt Obama rationales have anything to do with that.
  - dragonbonheur 11y ago
    Obama by himself, no. But the executives from which he raised money will make him do and say anything they want.
    - fauigerzigerk 11y ago
      No one can make a US president in his last year in office say anything.
      - dragonbonheur 11y ago
        TPP and the manner with which it was discussed proves otherwise... Obama is a moderate Republican, really. https://theintercept.com/2015/05/12/cant-read-tpp-heres-huge-corporations-can/ https://theintercept.com/2015/05/12/cant-read-tpp-heres-huge... http://www.theguardian.com/us-news/2015/jun/24/barack-obama-fast-track-trade-deal-tpp-senate http://www.theguardian.com/us-news/2015/jun/24/barack-obama-... http://www.theguardian.com/business/2015/may/27/corporations-paid-us-senators-fast-track-tpp http://www.theguardian.com/business/2015/may/27/corporations...
        fauigerzigerk 11y ago
        Please explain to me how this proves or even just suggests that Obama was forced to say anything.
- dragonbonheur 11y ago
  According to http://www.proeuropa.org.uk/twelevereasons http://www.proeuropa.org.uk/twelevereasons, the UK enjoys all of this thanks to the EU: 1. Jobs Around 3.5 million British jobs are directly linked to British membership of the European Union’s single market – 1 in 10 British jobs. 2. Exports & investment The EU buys over 50 per cent of UK exports (54 per cent of goods, 40 per cent of services). Over 300,000 British companies and 74 per cent of British exporters operate in other EU markets. American and Asian EU firms build factories in Britain because it is in the single market. 3. Trade The EU negotiates trade agreements with the rest of the world. Outside the EU Britain would have to renegotiate trade deals alone. While the EU is the world’s largest market, a UK outside the EU would not be a high priority for other counties to negotiate a trade deal. 4. Consumer clout British families enjoy lower mobile phone roaming charges, lower credit card fees, cheaper flights and proper compensation when flights are delayed or cancelled. These sorts of benefits could not be achieved by Britain alone. 13. Research funding The UK is the second largest beneficiary of EU research funds, and the British Government expects future EU research funding to constitute a vital source of income for our world-leading universities and companies. A Brexit could mean that there will be increased taxes on all of this to compensate from these lost advantages, which will surely translate to increased corporate taxes.
- fauigerzigerk 11y ago
  The UK is completely free to set its taxes inside the EU as it sees fit. Just look at Ireland with its 12.5% corporation tax and its position at the center of numerous tax evasion schemes. You say other countries are constantly pushing, but Ireland was only recently bailed out by exactly those other Eurozone countries, and even in that precarious situation, Ireland was not forced to change its tax rates.

fredley 11y ago

I would have thought remaining in the EU would result in (eventual) greater regulation, and Brexit would make the situation worse (for non-corporations).

ryanlol 11y ago
Are the people taking advantage of these arrangements non-people?

vidarh 11y ago

That makes no sense. The EU countries with higher tax levels are constantly pushing to reign in the EU "tax havens", whereas outside the EU, the UK will be free to use even lower tax rates and more tax breaks as a means of retaining and attracting international business, and may need to, in order to prevent an exodus from the City etc.

varjag 11y ago
To be fair, exiting EU would put the UK at disadvantage as EU tax heaven / headquarters beachhead. Common customs and VAT space goes out of the window, as well as hundreds other compliance regulations tying the EU together. Luxembourg and Cyprus will certainly get a lot of new business. But I really doubt Obama rationales have anything to do with that.
- dragonbonheur 11y ago
  Obama by himself, no. But the executives from which he raised money will make him do and say anything they want.
  - fauigerzigerk 11y ago
    No one can make a US president in his last year in office say anything.
    - dragonbonheur 11y ago
      TPP and the manner with which it was discussed proves otherwise... Obama is a moderate Republican, really. https://theintercept.com/2015/05/12/cant-read-tpp-heres-huge-corporations-can/ https://theintercept.com/2015/05/12/cant-read-tpp-heres-huge... http://www.theguardian.com/us-news/2015/jun/24/barack-obama-fast-track-trade-deal-tpp-senate http://www.theguardian.com/us-news/2015/jun/24/barack-obama-... http://www.theguardian.com/business/2015/may/27/corporations-paid-us-senators-fast-track-tpp http://www.theguardian.com/business/2015/may/27/corporations...
      - fauigerzigerk 11y ago
        Please explain to me how this proves or even just suggests that Obama was forced to say anything.
dragonbonheur 11y ago
According to http://www.proeuropa.org.uk/twelevereasons http://www.proeuropa.org.uk/twelevereasons, the UK enjoys all of this thanks to the EU: 1. Jobs Around 3.5 million British jobs are directly linked to British membership of the European Union’s single market – 1 in 10 British jobs. 2. Exports & investment The EU buys over 50 per cent of UK exports (54 per cent of goods, 40 per cent of services). Over 300,000 British companies and 74 per cent of British exporters operate in other EU markets. American and Asian EU firms build factories in Britain because it is in the single market. 3. Trade The EU negotiates trade agreements with the rest of the world. Outside the EU Britain would have to renegotiate trade deals alone. While the EU is the world’s largest market, a UK outside the EU would not be a high priority for other counties to negotiate a trade deal. 4. Consumer clout British families enjoy lower mobile phone roaming charges, lower credit card fees, cheaper flights and proper compensation when flights are delayed or cancelled. These sorts of benefits could not be achieved by Britain alone. 13. Research funding The UK is the second largest beneficiary of EU research funds, and the British Government expects future EU research funding to constitute a vital source of income for our world-leading universities and companies. A Brexit could mean that there will be increased taxes on all of this to compensate from these lost advantages, which will surely translate to increased corporate taxes.
fauigerzigerk 11y ago
The UK is completely free to set its taxes inside the EU as it sees fit. Just look at Ireland with its 12.5% corporation tax and its position at the center of numerous tax evasion schemes. You say other countries are constantly pushing, but Ireland was only recently bailed out by exactly those other Eurozone countries, and even in that precarious situation, Ireland was not forced to change its tax rates.