Re: About bl**dy time
I'm puzzled. I operate a one-person consultancy firm. I am largely retired, and my firm now has only one remaining client: the Australian subsidiary of a US firm. All of the value is provided in the US, all of the revenue is billed and paid from Australia, and all of the cost is incurred in my country.
So perhaps you could explain to me, is my firm's profit earned in my country, in Australia, or in the US?
Since this appears to be much clearer to several commentators than it is to me, perhaps someone could explain how the tax laws need to be "fixed" so that my firm pays its taxes in the correct country.
To my way of thinking, the firm makes a profit, but it does not make the profit in any particular country, and there is no "correct" country that should levy the tax. What we see is a tax grab by countries that feel they are missing out, and would like a piece of the action.
Biting the hand that feeds IT
