Tax the Turnover
The only way to collect tax is to tax the turnover by a percentage - say 10%
Make all companies declare their turnover, and then we know how much tax is due.
Low turnover is bad for the share price
Would need a lower limit e.g. turnover <£3m then lower tax rate
Problem with existing system reminds me of the old adage:
ask a mathematician what 2 + 2 = and he will say precisely 4
ask an engineer and he will say 4 plus or minus 1%
ask an accountant and he will say "what do you want it to be?"
Turnover tax gets everyone whether they make a profit or not
[and face it, there are many ways to engineer a loss!]
Biting the hand that feeds IT
