Jeff Bezos Wealth in Astonishing Circumstances Rank Name Net Worth 2020* #1 Jeff Bezos $145B #2 Bill Gates $104B #3 Bernard Arnault & Family $92B #4 Warren Buffett $73B Amazon doing canny well out of this covid ****.....Creating a lot of jobs...
That's exactly why he's that rich. You don't get Bond-film supervillain rich by paying your staff a living wage. Mind you... I think Musk is more likely a secret supervillain than Bezos... Although Bezos does have the prerequisite bald head, so he probably is a supervillain.
Just get the **** to pay his taxes. That should be a priory for governments throughout the world this year.
For every job they (Amazon) create they destroy 2 orders of magnitude more brick and mortar store jobs.
Ford put a lot of cart manufacturers out of business too! I don't mind progress, it's how we become more efficient as a society, but everyone should be on a level playing field, and as mentioned above by Archer, he does have an unfair advantage because he gets to skirt tax rules in ways smaller players can't.
Well let's see shall we? By the power of Google, I am able to ascertain that in the last financial year Amazon paid £6.3 million tax, on declared revenue of £13.5 billion. So I'd say certainly millions, possibly billons.
He's not the only billionaire or mega Corp doing that though. Anyone with enough money to make a joke of tax laws and shuffle money around to various subsidiaries to avoid paying taxes is doing it. Really, the question is why do governments let people like this get away with it? Change the friggin laws to make it harder to do.
Corporation tax is payable on profit is it not? Let’s say it’s £100m for arguments sake. Seems a bit of a small number considering how much heat this subject (Amazon in particular) gets.
Exactly. If the political will exists, to make multi national corporations pay tax on transactions in the countries where they trade, it really wouldn't be that hard to achieve. The British Horseracing Board manages to make offshore bookmakers contribute to a levy every time they take a bet on UK horseracing. So I'm sure the British government could collect tax on business conducted in Britain by companies registered abroad. Being governed by a bunch of public schoolboys who probably have connections with those businesses may or may not be a factor in the easy ride these companies currently get from HMRC.
Then find a way of making the tax payable on turnover not profit. Not in a punative manner obviously, I'm sure it can be done fairly - see my reply to Milk about the British Horseracing Board. If they can get a fair contribution from bookmakers to the horseracing levy, I'm sure the government can do the same with Amazon, Uber, Starbucks etc.
How can you tax on revenue if a company makes very little profit? All that would happen is downsizing, loss of jobs and resistance from employers to retain employees long-term. If we stick to Amazon, let’s say they flipped £1bn in nett profit. They pump £700m of that into expansion of their services, creating jobs along the way. They have £300m left to tax. How much of that goes into technology, innovation, strategy, etc? Or do we expect them to fund that through global profits? Can we reverse that thought process and say they’re allowed to invest U.K. profit into overseas projects, since they’re a global operation? I know it’s a lot of ifs and buts, but I think they’re doing a good job of utilising a vast pool of low skilled workers, creating jobs.
Weren't there huge holes in the Labour manifesto cos they were discussing tax money that might not even exist?
