Cyprus-Forum.com

[Paphitis]

now there is something new you learn every single day. here is a new one today, ho wmany are aware of this.

<<<Big businesses are faring better than ever under the Trump era tax law, the Tax Cuts and Jobs Act (TCJA).

According to analysis from the Institute on Taxation and Economic Policy (ITEP), 60 Fortune 500 companies avoided paying all federal income tax in 2018 (with their total average effective tax rate being roughly -5%).

That’s more than three times the number of companies that avoided paying corporate taxes on average from 2008 to 2015. During that period, 18 companies managed to pay 0% or less (with their total average effective tax rate over 8 years being roughly -4%).

“There are a lot of breaks and loopholes that allow a company not to pay,” Steve Wamhoff, ITEP’s Director of Federal Tax Policy, told Yahoo Finance. “People, when they think of tax reform, think the government is going to fix the tax code and get rid of breaks and loopholes and get rid tax dodging. What we got at the end of 2017 was not that. It was the opposite of that. The Tax Cuts and jobs act left a lot of special breaks and loopholes in place and created some new ones.”

In 2017, the effective corporate tax rate was 13.6%. In 2018, corporations paid just 7% of their profits as federal taxes, according to data provided to Yahoo Finance by research firm Oxford Economics.

That’s the lowest effective tax rate since at least 1947.
‘These companies enjoyed a net corporate tax rebate’

Of all 60 companies paying taxes for 2018, the first full year under the TCJA, Amazon (AMZN) topped the list with the largest portion of income. In 2018, Amazon paid $0 in taxes on record profit of $11 billion. 2018 was the second year in a row that the e-commerce giant was able to avoid paying taxes.

Amazon is joined on the list by other big companies raking in big profits, including Delta Airlines (DAL), Chevron (CVX), Netflix (NFLX), and General Motors (GM).

“Instead of paying $16.4 billion in taxes at the 21 percent statutory corporate tax rate,” ITEP noted, “these companies enjoyed a net corporate tax rebate of $4.3 billion.”

Under TCJA, Trump’s new tax law cuts the corporate tax rate from 35% to 21%. And some big businesses that did end up paying tax in 2018 paid far less than that. In 2017, the effective corporate tax rate was 13.6%. In 2018, corporations paid just 7% of their profits as federal taxes, according to data provided to Yahoo Finance by research firm Oxford Economics.

That’s the lowest effective tax rate since at least 1947.
‘These companies enjoyed a net corporate tax rebate’

Of all 60 companies paying taxes for 2018, the first full year under the TCJA, Amazon (AMZN) topped the list with the largest portion of income. In 2018, Amazon paid $0 in taxes on record profit of $11 billion. 2018 was the second year in a row that the e-commerce giant was able to avoid paying taxes.

Amazon is joined on the list by other big companies raking in big profits, including Delta Airlines (DAL), Chevron (CVX), Netflix (NFLX), and General Motors (GM).

“Instead of paying $16.4 billion in taxes at the 21 percent statutory corporate tax rate,” ITEP noted, “these companies enjoyed a net corporate tax rebate of $4.3 billion.”

Under TCJA, Trump’s new tax law cuts the corporate tax rate from 35% to 21%. And some big businesses that did end up paying tax in 2018 paid far less than that>>

have you been wondering why americans can't afford a health service, well wonder no more

here is a few of these lovel corporations who care so much for america

You are full of Nonsense!

Chevron pay 140 Billion in taxes in Australia alone.

https://thewest.com.au/business/oil-gas ... b88506105z

[Lordo]

this makes very interesting view.

https://www.facebook.com/GoingUndergroundRT/videos/2340342532887443/UzpfSTE0MDU3MjY2NDYzODM4ODE6MjI1OTYzNzI2NDMyNjE0NA/

[Lordo]

now there is something new you learn every single day. here is a new one today, ho wmany are aware of this.

<<<Big businesses are faring better than ever under the Trump era tax law, the Tax Cuts and Jobs Act (TCJA).

According to analysis from the Institute on Taxation and Economic Policy (ITEP), 60 Fortune 500 companies avoided paying all federal income tax in 2018 (with their total average effective tax rate being roughly -5%).

That’s more than three times the number of companies that avoided paying corporate taxes on average from 2008 to 2015. During that period, 18 companies managed to pay 0% or less (with their total average effective tax rate over 8 years being roughly -4%).

“There are a lot of breaks and loopholes that allow a company not to pay,” Steve Wamhoff, ITEP’s Director of Federal Tax Policy, told Yahoo Finance. “People, when they think of tax reform, think the government is going to fix the tax code and get rid of breaks and loopholes and get rid tax dodging. What we got at the end of 2017 was not that. It was the opposite of that. The Tax Cuts and jobs act left a lot of special breaks and loopholes in place and created some new ones.”

In 2017, the effective corporate tax rate was 13.6%. In 2018, corporations paid just 7% of their profits as federal taxes, according to data provided to Yahoo Finance by research firm Oxford Economics.

That’s the lowest effective tax rate since at least 1947.
‘These companies enjoyed a net corporate tax rebate’

Of all 60 companies paying taxes for 2018, the first full year under the TCJA, Amazon (AMZN) topped the list with the largest portion of income. In 2018, Amazon paid $0 in taxes on record profit of $11 billion. 2018 was the second year in a row that the e-commerce giant was able to avoid paying taxes.

Amazon is joined on the list by other big companies raking in big profits, including Delta Airlines (DAL), Chevron (CVX), Netflix (NFLX), and General Motors (GM).

“Instead of paying $16.4 billion in taxes at the 21 percent statutory corporate tax rate,” ITEP noted, “these companies enjoyed a net corporate tax rebate of $4.3 billion.”

Under TCJA, Trump’s new tax law cuts the corporate tax rate from 35% to 21%. And some big businesses that did end up paying tax in 2018 paid far less than that. In 2017, the effective corporate tax rate was 13.6%. In 2018, corporations paid just 7% of their profits as federal taxes, according to data provided to Yahoo Finance by research firm Oxford Economics.

That’s the lowest effective tax rate since at least 1947.
‘These companies enjoyed a net corporate tax rebate’

Of all 60 companies paying taxes for 2018, the first full year under the TCJA, Amazon (AMZN) topped the list with the largest portion of income. In 2018, Amazon paid $0 in taxes on record profit of $11 billion. 2018 was the second year in a row that the e-commerce giant was able to avoid paying taxes.

Amazon is joined on the list by other big companies raking in big profits, including Delta Airlines (DAL), Chevron (CVX), Netflix (NFLX), and General Motors (GM).

“Instead of paying $16.4 billion in taxes at the 21 percent statutory corporate tax rate,” ITEP noted, “these companies enjoyed a net corporate tax rebate of $4.3 billion.”

Under TCJA, Trump’s new tax law cuts the corporate tax rate from 35% to 21%. And some big businesses that did end up paying tax in 2018 paid far less than that>>

have you been wondering why americans can't afford a health service, well wonder no more

here is a few of these lovel corporations who care so much for america

You are full of Nonsense!

Chevron pay 140 Billion in taxes in Australia alone.

https://thewest.com.au/business/oil-gas ... b88506105z

are you saying that Institute on Taxation and Economic Policy (ITEP) do not know what they are talking about

you left out the word will in your little comment.

so it should say Chevron will pay 140 Billion in taxes in Australia alone.

and here is another one. one third of copanies in australia have paid no tax. i bet chevron is one of them.

https://www.abc.net.au/news/2018-12-13/one-third-of-australian-companies-paid-no-tax-ato/10614916

so how much tax did they pay again?
now this is very interesting. what are you?

https://www.abc.net.au/news/2017-04-21/chevron-faces-massive-tax-bill-after-ato-court-victory/8460874

they have been fined 300 million for not paying any tax plus expenses.

after reading this you will understand how they avoid tax. 300million is regarding 2.5 billion cevron america lent to chevron australia clearly to avoit tax. there is a bigger loan of 42 billian it looks like the bil will be more 6 billion unpaid taxes.

funny enough i was in their london offices the other day. i wish i knew about this, i would have got a bit more information.

[Paphitis]

now there is something new you learn every single day. here is a new one today, ho wmany are aware of this.

<<<Big businesses are faring better than ever under the Trump era tax law, the Tax Cuts and Jobs Act (TCJA).

According to analysis from the Institute on Taxation and Economic Policy (ITEP), 60 Fortune 500 companies avoided paying all federal income tax in 2018 (with their total average effective tax rate being roughly -5%).

That’s more than three times the number of companies that avoided paying corporate taxes on average from 2008 to 2015. During that period, 18 companies managed to pay 0% or less (with their total average effective tax rate over 8 years being roughly -4%).

“There are a lot of breaks and loopholes that allow a company not to pay,” Steve Wamhoff, ITEP’s Director of Federal Tax Policy, told Yahoo Finance. “People, when they think of tax reform, think the government is going to fix the tax code and get rid of breaks and loopholes and get rid tax dodging. What we got at the end of 2017 was not that. It was the opposite of that. The Tax Cuts and jobs act left a lot of special breaks and loopholes in place and created some new ones.”

In 2017, the effective corporate tax rate was 13.6%. In 2018, corporations paid just 7% of their profits as federal taxes, according to data provided to Yahoo Finance by research firm Oxford Economics.

That’s the lowest effective tax rate since at least 1947.
‘These companies enjoyed a net corporate tax rebate’

Of all 60 companies paying taxes for 2018, the first full year under the TCJA, Amazon (AMZN) topped the list with the largest portion of income. In 2018, Amazon paid $0 in taxes on record profit of $11 billion. 2018 was the second year in a row that the e-commerce giant was able to avoid paying taxes.

Amazon is joined on the list by other big companies raking in big profits, including Delta Airlines (DAL), Chevron (CVX), Netflix (NFLX), and General Motors (GM).

“Instead of paying $16.4 billion in taxes at the 21 percent statutory corporate tax rate,” ITEP noted, “these companies enjoyed a net corporate tax rebate of $4.3 billion.”

Under TCJA, Trump’s new tax law cuts the corporate tax rate from 35% to 21%. And some big businesses that did end up paying tax in 2018 paid far less than that. In 2017, the effective corporate tax rate was 13.6%. In 2018, corporations paid just 7% of their profits as federal taxes, according to data provided to Yahoo Finance by research firm Oxford Economics.

That’s the lowest effective tax rate since at least 1947.
‘These companies enjoyed a net corporate tax rebate’

Of all 60 companies paying taxes for 2018, the first full year under the TCJA, Amazon (AMZN) topped the list with the largest portion of income. In 2018, Amazon paid $0 in taxes on record profit of $11 billion. 2018 was the second year in a row that the e-commerce giant was able to avoid paying taxes.

Amazon is joined on the list by other big companies raking in big profits, including Delta Airlines (DAL), Chevron (CVX), Netflix (NFLX), and General Motors (GM).

“Instead of paying $16.4 billion in taxes at the 21 percent statutory corporate tax rate,” ITEP noted, “these companies enjoyed a net corporate tax rebate of $4.3 billion.”

Under TCJA, Trump’s new tax law cuts the corporate tax rate from 35% to 21%. And some big businesses that did end up paying tax in 2018 paid far less than that>>

have you been wondering why americans can't afford a health service, well wonder no more

here is a few of these lovel corporations who care so much for america

You are full of Nonsense!

Chevron pay 140 Billion in taxes in Australia alone.

https://thewest.com.au/business/oil-gas ... b88506105z

are you saying that Institute on Taxation and Economic Policy (ITEP) do not know what they are talking about

you left out the word will in your little comment.

so it should say Chevron will pay 140 Billion in taxes in Australia alone.

and here is another one. one third of copanies in australia have paid no tax. i bet chevron is one of them.

https://www.abc.net.au/news/2018-12-13/one-third-of-australian-companies-paid-no-tax-ato/10614916

so how much tax did they pay again?
now this is very interesting. what are you?

https://www.abc.net.au/news/2017-04-21/chevron-faces-massive-tax-bill-after-ato-court-victory/8460874

they have been fined 300 million for not paying any tax plus expenses.

after reading this you will understand how they avoid tax. 300million is regarding 2.5 billion cevron america lent to chevron australia clearly to avoit tax. there is a bigger loan of 42 billian it looks like the bil will be more 6 billion unpaid taxes.

funny enough i was in their london offices the other day. i wish i knew about this, i would have got a bit more information.

Yes that is exactly what I am saying and I will tell you why.

Businesses like Chevron are liable for the going tax rate on profits and they announce these profits to the share market and how much tax they pay.

Also, it is possible for an extremely profitable business to claim depreciation on its plant and equipment to such a point where it shows a LOSS. It can also embark on a spending spree by buying stuff.

For example, QANTAS announces nearly 1 billion worth of profits year on year and then reports a 1 billion loss followed by a 1 billion net profit the year following that.

All this stuff is legal, and you can argue its tax minimization but certainly not tax avoidance.

Yes it's possible that a third of companies pay no tax in Australia but that is normal. I run a business and last financial year I declared a loss for the first time I can remember. Not only do I not pay tax but I offset these losses against my income and get a tax return or refund.

But saying a third of businesses don't pay tax ever, is a major misrepresentation as the ATO collects Billions from Business and they also audit their claims quite diligently. I remember making 1 mistake and I not only had to pay the shortfall plus 21% interest but I also had to pay a massive fine.

They also are not shy with fining Google and Apple and other companies. I think Google copped a 300 million dollar fine by the Australian Tax Office last week. And if they don't pay, the Government shuts them down and they are not afraid to do that either, by blacklisting them making it impossible to get Google from an Australian IP Address. Very Authoritarian, but that is Australia.

The company tax rate in Australia is 30%. It has just been reduced to 28% and will be further reduced to 26% next year and tot 24% the following year after that.

The goal is to reduce it further to attract foreign investment.

[Lordo]

thats bullshit and you know it. the reason why they were fined is because they borrow money from their sister companies in countries with very low tax rates and siphon their profits out of australia and america and such like.

it has nothing to do with investement or tax rates, not when there are countries that chatge 5% tax.

in any case you started by saying they paid 140 million in tax which goes to show how little you understand from what you are reading.


There is only one way to tax thses bastards and that is to tax their turnover in the country rather than profit, there is no way they can avoid that. They can't just pull out thier offcies to the chepaest tax country, they would have to stop trading to avoind tax. Thats just started with some eu countries that are goinf to charge amazon and google 3% on turnover and of course trump has got most upset about it.

[Paphitis]

thats bullshit and you know it. the reason why they were fined is because they borrow money from their sister companies in countries with very low tax rates and siphon their profits out of australia and america and such like.

it has nothing to do with investement or tax rates, not when there are countries that chatge 5% tax.

in any case you started by saying they paid 140 million in tax which goes to show how little you understand from what you are reading.


There is only one way to tax thses bastards and that is to tax their turnover in the country rather than profit, there is no way they can avoid that. They can't just pull out thier offcies to the chepaest tax country, they would have to stop trading to avoind tax. Thats just started with some eu countries that are goinf to charge amazon and google 3% on turnover and of course trump has got most upset about it.

Yes they may try that but in Australia it's illegal and such practice attracts massive fines.

the Australian Tax Office has even gone after Shell.

The Argument is, money earned in Australia requires tax to be paid in Australia, and these businesses need to show evidence of all their earnings and foreign debts under other entities don't apply. they have really cracked down on that. If they don't pay tax to Australia, they are embargoes and banned from operating in Australia.

So far, Apple, Google, Shell have all be done over real good by Australia and required to pay massive fines which are usually far more than any due tax.

Shell for instance have made their own company up for Australian operations called VIVA Energy.

I can't tell you what the US does, but tax avoidance is taken very seriously in Australia. All in all, publicly listed companies do now comply with local laws and are transparent because they must divulge their financials to the Stock Market. Usually, tax avoidance is a much bigger problem with smaller businesses local small shops and tradespeople.

But, there is a program to reduce the amount of tax business pays. This is a deliberate measure not to protect the rich but to attract investment into Australia, and as a consequence, employment. The idea, if they become more tax competitive, it will attract an influx of foreign capital.

At the moment businesses are paying 28% but this is going to be reduced to 22%.

[Lordo]

it can only happen in america

https://www.bbc.co.uk/sport/football/49415758

Long-term exposure to the chemical arsenic can lead to a variety of chronic health conditions, including skin disorders, cancers of the lung and bladder and cardiovascular issues.
Environmental firm EE&G, commissioned by Inter Miami, found barium and lead levels also exceeded legal limits. The site used to be a waste site for incinerator ash.

i mean what a democracy

[Paphitis]

it can only happen in america

https://www.bbc.co.uk/sport/football/49415758

Long-term exposure to the chemical arsenic can lead to a variety of chronic health conditions, including skin disorders, cancers of the lung and bladder and cardiovascular issues.
Environmental firm EE&G, commissioned by Inter Miami, found barium and lead levels also exceeded legal limits. The site used to be a waste site for incinerator ash.

i mean what a democracy

Bullshit it can only happen in America.

Contaminated sites getting cleaned up are rejuvenated all the time and used for other purposes.

Happens in Australia and Europe as well.

[Lordo]

it seems denmark is now in the bad books of trump. trump wants america to buy greenland and will not take no for an answer. which bit of greenland is not for sale does this sdupid kand does not understand. lucky for denmark, they are in the eu and fully protected from american stupidity.

[Lordo]

it can only happen in america

https://www.bbc.co.uk/sport/football/49415758

Long-term exposure to the chemical arsenic can lead to a variety of chronic health conditions, including skin disorders, cancers of the lung and bladder and cardiovascular issues.
Environmental firm EE&G, commissioned by Inter Miami, found barium and lead levels also exceeded legal limits. The site used to be a waste site for incinerator ash.

i mean what a democracy

Bullshit it can only happen in America.

Contaminated sites getting cleaned up are rejuvenated all the time and used for other purposes.

Happens in Australia and Europe as well.

i have never heard of a compnay being allowed to contaminate soil with arsenic in europe. only in america.