3 ms·
> So what exactly is left for a corporate tax to collect? £220bn in profit last year. It's in the headline.
by chipsambos 5y ago
> So what exactly is left for a corporate tax to collect?
£220bn in profit last year.
It's in the headline.
- G3rn0ti 5y agoWell, thanks for your snarky comment. ;) The profit goes out to shareholders as dividends, to employees as salary rises and into investments of a corporate’s means of production hopefully generating more growth and, hence, growing tax returns.
- G3rn0ti 5y ago> £220bn As others pointed out — this number is nonsense. See for example https://news.ycombinator.com/item?id=27380998 https://news.ycombinator.com/item?id=27380998.
- samspenc 5y agoYeah that was my first thought on seeing the title. MSFT as a whole made a grand total of $143 billion (€118 billion) revenue in 2020 (across the globe), and $44.3 billion (€36.5 billion) profit during this time. I'm not sure how they got from a €36.5 billion profit for the year (which would be the maximal taxable amount) to a €220 billion number, something 6x higher.