Are Ford just as bad as Google with Tax dodging?

Creative thinking. Good luck to them. :-)
 
Creative and currently legal. :-)
 
The American government have obviously been ok with it and Ford have made no secret of it, they have been doing it since the model was launched. Plus they are employing people in America to remove the seats and blank off the windows. It is just making use of a loop hole. No different to the amount of tax people are able to avoid paying on pension contributions.
 
viv1969 said:
Creative and currently legal. :)
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oh absolutely and I offer no plus or minus on it, I just find it amusing that an American company is finding ways to avoid paying American taxes to help its own citizens.
 
Seems that the US are not that Happy with Fords avoidance buried in the story, it is currently in the courts again.
But the USs own court ruled in there favour, you couldn't make it up.

Ford have dodged 1/4 Billion Dollars in this scam alone.

As a result, in 2013, US Customs forced Ford to start paying a 25% tariff on all Transit Connect imports, instead of the previous 2.5%.

Ford immediately challenged this decision at the US Court of International Trade, which ruled in its favour.

US Customs is currently appealing against that decision. In a recent regulatory filing, Ford said: "If we prevail on appeal, we will receive a refund of the contested amounts paid, plus interest."
 
Every large multi-national company has a duty to maximise profits to their shareholders within the confine of the law...

It's just capitalism, if there is a legal loophole, they will exploit it. Why do you think so many companies have their head office in Ireland?

I find it ingenious tbh!
 
The section about the Chinese and the candle tax made me laugh out loud.
 
nilagin said:
No different to the amount of tax people are able to avoid paying on pension contributions.
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Here we go again, Pension contributions are income tax deductable, however when you come to draw them out in retirement they are taxable, thereby reducing the amount you receive in real terms in respect to the State Pension.
Whilst these contributions are resident in an Insurance Companies coffers they are used to buy shares, Govt bonds or in a cash fund, that money is then used to the benefit of society in terms of money available to mortgages, Govt borrowing (including current pension/benefits payments) etc.
So please dont try and say it's fiddling because it isnt.
I have put a few quid away which I will draw on when I am an OAP therefore I will pay tax on my pensions derived from that money when I retire and will not be a burden on either the Govt or society in general by claiming other benefits available to those less well off or using an NHS dentist etc.
 
nilagin said:
I didn't say it was fiddling, I said it was no different.
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Except it is different, the tax may not be paid at the time the money is moved into a pension fund but it is paid later, so it's defering tax not avoiding it.
 
MatBin said:
Except it is different, the tax may not be paid at the time the money is moved into a pension fund but it is paid later, so it's defering tax not avoiding it.
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It is also optional. You have to claim it.
Plus how much tax are you likely to pay on it? I can take a nice big tax free lump sum reducing my tax bill each month.
 
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nilagin said:
It is also optional. You have to claim it.
Plus how much tax are you likely to pay on it? I can take a nice big tax free lump sum reducing my tax bill each month.
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Although of course your pension pot can go down as well as up before you receive it (as mine has the last 2 months :-( )
 
@MatBin remember @nilagin works for Ford or shall we just call them Fraud now lol

he has very little ammo left in his box so the straws and teddies are out LOL
 
MatBin said:
Pension contributions are income tax deductable, however when you come to draw them out in retirement they are taxable, thereby reducing the amount you receive in real terms in respect to the State Pension.
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Not to mention you (or rather your fund) will be paying tax on any dividends received from investments made for your future. And there is also a lifetime limit (if you're lucky enough to hit it) as to how big a pension pot can be before you start to pay tax on contributions and lose your tax free lump sum
 
Mr Bump said:
@MatBin remember @nilagin works for Ford or shall we just call them Fraud now lol

he has very little ammo left in his box so the straws and teddies are out LOL
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Fraud, that one is probably older than me.
Actually as of October 1st I work for a different company but am seconded to Ford. I have plenty of ammo left, the straws, teddies and dummies are all yours.
Would you like to tell us again about how you are paying most of your wages into a pension to avoid paying tax and then plan on leaving the country, that wouldn't be to avoid paying tax on your pension would it?
 
MatBin said:
Although of course your pension pot can go down as well as up before you receive it (as mine has the last 2 months :-( )
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My pension pot has never gone down in 37yrs.
 
nilagin said:
My pension pot has never gone down in 37yrs.
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Mine has in the last couple of months, guess it depends how frequently you look at it, if I did it once a years I'd never have known, no doubt it will be back up again in a couple of months. Head and Sand spring to mind.
 
nilagin said:
My pension pot has never gone down in 37yrs.
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Are you in a DB / final salary scheme?

Given the size of your employer, it would seem likely you are, in which case you are isolated from stock market movements, unlike those in money purchase / DC scheme or with a SIPP.
 
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