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Apple agrees to pay £136m in back idiot taxes to UK taxman

Blotto Bronze badge

@Lee

Revenue isn’t profit. Companies currently pay tax on profit.

If tax laws are changed to tax revenue companies can adjust their prices accordingly.

In the UK people pay VAT when we buy most non essential products, also payable on insurance and utilities at reduced rates. That is like a tax on revenue in that every sale to an individual generates 20% at retail, less for insurance, utilities. Yes HMRC allow those collecting vat to keep some for themselves but still every consumer sale includes 20% tax.

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