It got my thinking about business tax rates from around the world, Wild I know! Gone are the days of day dreaming about trips to Vegas or winning the lottery, now I am resigned to thinking about business tax rates, a little piece of died inside while writing about this.
Whilst I am now a business owner these are some of the many things I need to consider, “what are the rates of tax and how is it going to effect me”. My initially thought was the rise to 25% that our splendid government have decided to bestow upon us come 2023, has to be amongst the highest in the world! Now for a country and specifically government (the conservatives) that “empowers business” how do they expect this to work? Tax rises mean that the little guy (me and my business) end up getting screwed the most, big business like they do already will seek to offshore more of the completion of the work to avoid taxes, case and point Facebook, if I right now decide to purchase let’s say advertising from my bath here in the North West of England, Facebook surmise that this transaction isn’t completed in my bath where I made the purchased oh no, it’s completed 176 miles away over the Irish Sea in Dublin, go figure! This ultimately means that Facebook will pay less corporation tax on that transaction than if I also at the same time decided to buy bread and milk from Sainsbury’s.
So anyway, as I was saying I was day dreaming about tax… I decided to google who has the highest rates of tax in the world. I was surprised to read that 2 of the top 3 countries in the world with the highest tax rates I’d never even heard of. In at number two Puerto Rice at 37.5% ok I’ve heard of this one, beautiful place beautiful people! At number one was Comoros at 50%! 50% it’s so high I had to write it twice!m for a small African nation they sure do hate business, and in at number 3 was Suriname, I have never in my life heard of country called Suriname but they also hate business because they impose a tax of 36% on the poor business owners
Genuinely, I had honestly thought I’d heard of most countries in the world, I’m also fairly good at placing capital cities but if somebody had ever asked me where Suriname is I’d of said it goes after my Christian one.
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