didnt realise we had a new partner, only happened a few days back though
Another SwissRamble megathread.
Btw, what an absolute disgrace:
So much for Liverpool’s working class credentials. Frauds
All that money and don’t pay any corporation tax while the country goes to shit. Unbelievable. Proud of our club.
Imagine paying taxes over transfer fees. State of this club
All that really tells me is that every single title winning club over the last decade has had some form of investment from its owner. Even Leicester City benefited heavily from investment from their owner.
From the twitter thread, corporation tax is largely based on profit apparently. So if Liverpool aren’t in profit, or are only recently in profit, they won’t have been paying corporation tax. Not sure its got much to do with their “working class credentials” or us being a particularly classy club.
But I could be wrong.
You’re not wrong.
We need to introduce a levy on PL TV deals right now
To be fair, the pack of profit is probably just as much creative accounting to make it look that way as actually not making much money.
Am I fuck believing the PL clubs aren’t making profits what with these TV deals.
And you know how much Kopites and Liverpool like to build themselves up as this great club and community club, well I’d say paying tax and helping their community comes under that.
Don’t care whether they can and don’t pay tax, but they have been found out as all talk.
Well I totally agree with that.
But it all comes down to whether or not they are being creative with their accounting or not for me, when assessing whether you are being fair or not.
Somehow I don’t think that Kroenke and his senior employees wouldn’t be artfully avoiding corporation tax if they could do it, just like you think Liverpool are. I’d be hugely shocked if they could get away with not paying that thirty million in tax but decided out of the good of their hearts that paying it is simply the right thing to do.
Shouldn’t tax be based on revenue rather than profit?
No you pay corporation tax based on taxable profits.
Most businesses are trying NOT to pay taxes… typically smaller partnerships distribute (pay out) money in order to avoid taxes… once you have enough reserves, it is stupid to put yourself in position to pay taxes.
With larger corporates, it is more complicated and obviously there are more ways to defer/avoid taxes, but the same basic premise applies… if you think about it, it makes sense… if I invest in a new factory (leaving aside the capitalization rules and depreciation for the moment), you wouldn’t want to pay taxes on revenues that allowed you to reinvest in the company, right? Or pay new employees? Plus, as money is spent, a large portion eventually finds its ways into wages, dividends, etc. that ARE taxed.