Fix U.K.'s Broken Corporate Tax Rate
- by: Care2.com
- recipient: British Chancellor George Osborne
You know corporate tax rates are broken when companies like Google pay less than 0.15% in U.K. taxes on their nearly £3 billion annual sales.
And Google isn't the only one. Chancellor George Osborne has implemented a 5% corporate tax cut across the board to entice companies like Google to invest further in the U.K.
The international taxation rate in Britain was already one of the lowest in the world; now it'll drop even further.
Osborne is just making the problem worse! By decreasing the international tax rate, he's incentivizing an environment where foreign corporations can get away with paying comparatively minimal amounts in taxes.
We need to be focused on establishing international agreements that improve Britain's economy. Let's deter corporations from capitalizing on grey areas and loopholes -- demand a fix for the U.K.'s faulty corporate tax rate!
Dear Chancellor Osborne,
As good-natured as your international corporate tax cuts may have been, they have come at direct odds with our economic growth. Lowering the international rate by 5% may bring in new, immediate investments, but it does so at the cost of long-term growth and development.
When companies like Google gross nearly £3 billion in annual U.K. sales and pay less than £4 million in taxes, why would we want more companies to follow their lead? Instead of making the system seem more appealing to an outside audience, we should be taking care of our own economic deficiencies.
[Your Comments Here]
It's not illegal for Google and other corporations to pay such low taxes, but it certainly isn't helping the British economy.
Thank you for your consideration,
[Your Name Here]
