Welsh town uses tax loopholes to move entire town "offshore" (companies, interest)

[justanokie]

I thought this was very interesting. A way to force the governments hand into closing some tax loopholes.

Crickhowell: Welsh town moves 'offshore' to avoid tax on local business

When independent traders in a small Welsh town discovered the loopholes used by multinational giants to avoid paying UK tax, they didn’t just get mad.

Now local businesses in Crickhowell are turning the tables on the likes of Google and Starbucks by employing the same accountancy practices used by the world’s biggest companies, to move their entire town “offshore”.

Crickhowell residents want to share their tax avoidance plan with other towns, in a bid to force the Treasury into legislation to crack down on loopholes which allowed the likes of Amazon to pay just £11.9m of tax last year on £5.3bn of UK internet sales.

[Philip T]

We are ALL Transnational Corporations, now.

[Den0190]

Hahaha, hilarious. Yeah, I'm sure they'll close the loopholes now. Can't have the "little people" getting away with the same shady practices as our corporate overlords.

I must say, this is the one of the best nonviolent ways to institute change that I've seen in a while.