Saturday, 22 March 2014

10 ways for Labour to reduce tax avoidance

10 simple things Labour could do about tax avoidance when in power
They will upset people, but if they are serious about ending the "industry" that is tax avoidance, they have to make an example of people.Within a year fuss will have died down, but they must be prepared to make a fuss. What could they do with the extra £35bn every year?
  1. Award no government contracts to any tax avoiding company
  2. Award no honours to anyone guilty of tax avoidance, or in charge of company avoiding correct amount of tax eg Banks` CEOs
  3. Insist on all honours returned from tax avoiders, including peerages, knighthoods,MBEs etc
  4. No tax avoiders to work for government eg MP, judge, or government owned companies eg BBC
  5. Sportspeople who avoid correct tax no longer eligible to play for Eng, Scot,Wales.N Ire, GB ie No Representation without Taxation!
  6. Have no representatives from financial institutions which advise on tax "efficiency" on Treasury committees, unlike government practice now
  7. Give full government backing to the recently launched Fair Tax Mark, awarded to companies which pay correct tax- can use it on logos, advertising etc. Introduce a Fair Pay Mark, to be awarded to companies which pay living  wage at bottom of scale, and sensible salaries, without bonuses, at top. Companies with this Mark can use it for their publicity, and pay 1% less corporation tax.
  8. Tax avoiding government employees to lose job, and have pension rights cancelled eg MPs,Judges etc
  9.  Make it illegal for financial institutions to advertise or advise on tax "efficiency"; tax avoidance to be made a criminal offence.
 10. Triple VAT on advertising. Companies found to have paid correct amount of corporation tax at end of financial year have the additional VAT refunded.
It is no use passing laws every year to fill up the loopholes, the tax crooks will find more. There has to be a culture change. By announcing these proposals now, no-one can complain they weren`t warned, and of course it gives everyone the chance to end their tax avoiding scams before Labour takes over.

No comments:

Post a Comment