peter_IFAMAG reads Twitter so you don’t have to.
The UK still reels from the job recovery program announced yesterday (hyperlink) as HMRC reveals concerns about value for money. High street chemist Boots to cut 4000 jobs regardless. The FCA also receives a scathing write up in FTAdviser.
The UK is part of an ‘axis of tax avoidance’ according to new research.
UK, Switzerland, Luxembourg and the Netherlands – the “axis of tax avoidance” – are responsible for 72 per cent of global tax losseshttps://t.co/PdWMZfFYeS
— Tabby Kinder (@Tabby_Kinder) July 9, 2020
The statistics in the US are rather remarkable.
In UK, > 50% of foreign multinational companies currently report no taxable profits.
In the US, 91 companies on the Fortune 500 index, including Amazon, Chevron and IBM, paid an effective federal tax rate of zero in 2018.@Tabby_Kinder @EmmaAgyemanghttps://t.co/T8WPszZeXf pic.twitter.com/FaiuwTKY8a
— Adam Tooze (@adam_tooze) July 9, 2020
Boots announce 4000 jobs cut along with 53 shop closures.
BREAKING: High street chemist, Boots have announced they are going to cut 4,000 jobs.
— SkyNews (@SkyNews) July 9, 2020
The permanent secretary for HMRC questioned yesterday’s £30bn stimulus announcement.
NEW: Permanent Secretary at HMRC did not approve Job Retention Bonus because of uncertainty about its value for money
— Nick Eardley (@nickeardleybbc) July 9, 2020
And finally, the FTAdviser report ‘consumer fell victim to FCA shortcomings.’
— NEIL MITCHELL (@RNW_MITCHELL) July 8, 2020
What are your thoughts on these tweets?
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