Tag Archives: Facebook

Daily Headline – 16/02/13

G20 and Global Tax?

Global tax g20russiaMultinational companies buy, sell and ship money all round the world to either avoid paying tax altogether or to pay the very least they can.

The problem is, this is not illegal, loop holes exist and some countries deliberately keep corporate tax as low as possible to attract businesses and jobs.

If a global, unified tax system was in place it could (if done properly) eliminate the constant ‘threat’ of businesses and jobs packing up and moving to another country.
The money raised would be a much needed boost to help combat unemployment and improve heath and education.

The G20 Finance Ministers and Central Bank Governors’ Meeting will take place in Moscow, Russia from 15th – 16th February 2013.
Amongst other things the ‘global economy outlook’ will be discussed with the UK, France and Germany expected to push for global tax rules to help clampdown on corporate tax avoidance.

A full list of the G20 Finance Ministers and Central Bank Governors’ Meeting program can be found here.

There are almost countless examples of corporate tax avoidance, here are a couple…

Starbucks has paid £8.6m in corporation tax in its 14 years of trading in the UK, and nothing in the last three years.

Facebook paid no corporate income tax in the US last year, and instead reclaimed $451m in taxes from the Internal Revenue Service (IRS), despite recording profits of over $1bn.

Amazon generated £7.5bn from sales in the UK in the last three years, did so without attracting any corporation tax on the profits from those sales.

Daily Headline – 11/02/13

Website surveillance software developed for US defence

RIOT softwareThe Guardian is reporting about website surveillance software called RIOT developed by Raytheon for the US military.

The “extreme-scale analytics” system created by Raytheon, the world’s fifth largest defence contractor, can gather vast amounts of information about people from websites including Facebook, Twitter and Foursquare.

The power of Riot to harness popular websites for surveillance offers a rare insight into controversial techniques that have attracted interest from intelligence and national security agencies, at the same time prompting civil liberties and online privacy concerns.

For the full story from the Guardian click here.