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If I glossed over that correctly, it seems more like a "Bank tax rule tightening", they estimate 5B over 5 years, 4 of which come from changing/tightening banki
by atwebb 12y ago
If I glossed over that correctly, it seems more like a "Bank tax rule tightening", they estimate 5B over 5 years, 4 of which come from changing/tightening banking regulations and 1B (over 5 years) of which comes from mutlinationals operating in the UK. Not sure if that's ~200M a year or if there's some front/back loading and I really have no clue as to UK revenue/profits for all multinationals combined but (fuzzy math) is 200M a year for all of them a significant change? Does this only target companies of a certain size/category?
- talmand 12y agoI don't know about overseas, but here in the states every time politicians give out an estimate on how much revenue a new tax will generate they tend to be grossly incorrect at the end of the year. The reason is that if you tax an activity then people do things to avoid paying the tax for that activity; stop, move, or avoid. Sad thing is, the politicians make the revenue announcement so they can go ahead and spend the money as if they've already collected it.