Big business is big time tax avoider: Airbnb is the latest to pay as little tax as possible

Posted on October 9, 2017 By newsroom Topic: Big Business

Yet another story of a big business doing good business but paying very less taxes. We shouldn't be surprised to hear te latest news, this time, about Airbnb paying less than £200,000 in UK corporation tax last year despite collecting £657m of rental payments for property owners.

Governments make tax laws so that big business can use accountants to find a loophole/s easily and exploit them. Google, Apple, Microsoft, Amazon, Facebook...all are using carefully created loopholes to avoid paying taxes.

Despite what they claim in their ads and PR campaigns, no business is in it for the public. They exist to make a profit and profit only. That is why many Internet companies use sophisticated intellectual property transfer schemes between their subsidiaries to move almost all profits to tax havens (Virgin Islands, Panama etc) where they pay next to no taxes at all.

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