# Monsanto Endearment



## Vol (Jul 5, 2009)

.....it figures....from Growing TN.

Regards, Mike

http://growingtennessee.com/features/2015/07/senator-worries-monsanto-will-leave-us/?utm_source=Growing+Tennessee&utm_campaign=740930ab93-growingtennessee-daily_newsletter&utm_medium=email&utm_term=0_d75710df8e-740930ab93-296641129


----------



## PaMike (Dec 7, 2013)

What Obama doesn't understand is that taxing the "wealthy" and corporations to fund all the socialist programs forces those taxed to look at other options.... Sure I don't like that Monsanto wants to go overseas, but I cant blame them....


----------



## rjmoses (Apr 4, 2010)

If I could move my operation to a less tax-crazy place, and take my friends and family, I'd be gone in a shot. I ain't stupid! I put in a lot of time, money, blood, sweat, etc., and I'd like to keep what I make.

If others want to "help the poor, the hungry, the druggies, the "what-evers", they are more than welcome to contribute every penny of their own that they want to whatever cause they want.

So, I invite Obama, every member of Congress, and all the other do-gooders to go do some good, on their own, without dipping into my pocket. When I see that happening, I will gladly contribute a matching amount of my income.

'Til then....

Oh, and BTW, Monsanto doesn't pay taxes now. I've said this before, taxes on a business are a pass-through. We pay the taxes that Monsanto pays to the government bodies.

Ralph


----------



## Coondle (Aug 28, 2013)

Multi national companies minimise the tax paid by a number of means.

There is a Senate inquiry underway in Australia on this very topic.

One means of minimising tax is to operate via local (to a country) company and the have "services" provided from another company, wholly owned and registered in a low-taxing country like Singapore.

The "services" include management, intellectual property, insurance, marketing, R&D, and all those intangible things that a modern company seems to need to produce/ market anything these days.

A look of surprise will come over your face when all but a tiny amount of profit is run up in expenses like these meaning the big proportion of profit is effectively transferred to tax havens.

An extract from the Sydney Morning Herald of 15 July 2015

A single line in Note 16 of Chevron's latest consolidated financial accounts shows it holds $US35.7 billion in "undistributed earnings &#8230;. for which no deferred income tax provision has been made". This accounting term is otherwise known as "unrepatriated profits" or money held in low-tax and no-tax jurisdictions.

The company lists 40 subsidiaries, including in the tax havens of Bermuda and the Bahamas, as well as the low-tax jurisdictions of Singapore and the US state of Delaware.

But in Bermuda alone, there are 279 incorporated business names beginning with the word Chevron. They include companies that appear to be linked to the $US54 billion Gorgon operation, Chevron LNG Shipping Company Limited, Chevron Marketing & Trading Limited and Chevron Australia Transport Pty Ltd.

The company is also locked in a protracted court battle with the Australian Taxation Office over $322 million in unpaid taxes in Australia between 2004 and 2008. The case is a landmark "transfer pricing" matter whereby multinationals load up divisions in high-tax countries like Australia and then charge inflated interest costs to channel untaxed money to low-tax jurisdictions.

Chevron Australia Holdings, which had operating income of $3.2 billion last year, paid no tax and instead claimed a $5.7 million refund from the ATO.

Read more: http://www.smh.com.au/federal-politics/political-news/energy-giants-called-to-explain-billions-in-tax-havens-20150715-gid1wj.html#ixzz3gCMxjrlEA single line in Note 16 of Chevron's latest consolidated financial accounts shows it holds $US35.7 billion in "undistributed earnings &#8230;. for which no deferred income tax provision has been made". This accounting term is otherwise known as "unrepatriated profits" or money held in low-tax and no-tax jurisdictions.

The company lists 40 subsidiaries, including in the tax havens of Bermuda and the Bahamas, as well as the low-tax jurisdictions of Singapore and the US state of Delaware.

But in Bermuda alone, there are 279 incorporated business names beginning with the word Chevron. They include companies that appear to be linked to the $US54 billion Gorgon operation, Chevron LNG Shipping Company Limited, Chevron Marketing & Trading Limited and Chevron Australia Transport Pty Ltd.

The company is also locked in a protracted court battle with the Australian Taxation Office over $322 million in unpaid taxes in Australia between 2004 and 2008. The case is a landmark "transfer pricing" matter whereby multinationals load up divisions in high-tax countries like Australia and then charge inflated interest costs to channel untaxed money to low-tax jurisdictions.

Chevron Australia Holdings, which had operating income of $3.2 billion last year, paid no tax and instead claimed a $5.7 million refund from the ATO.

Read more: http://www.smh.com.au/federal-politics/political-news/energy-giants-called-to-explain-billions-in-tax-havens-20150715-gid1wj.html#ixzz3gCMxjrlE

This is the tip of the iceberg.

There is a stumbling block in your Senate or our Parliament doing anything about stopping this tax minimisation. There are international agreements through the OECD which govern these transfers.

To show the advantages that can be gained, one Australian based company on money "declared in singapore paid 5% in tax despite Singapore"s tax rate of 17.5% and Australia's Corporate tax rate of 30%. (Source Australian Business Review 11 April 2015.

To get an insight into these methods of minimising tax, Google "Australian Senate Corporate Tax Inquiry"

the methods are practiced around the world and the end result is profits generated from money you spent in your country are not taxed to supply services in your country.

Guess who is too small to gain these benefits of minimising tax and who is left to cough up what is needed.

As I posted in another thread the Tax man has a two step process for folks like us:

1) How much do you have; and

2) Send it in.

I have a simple device that will show you the answer to "Who is left to cough up", if you cannot work it out:

A mirror


----------



## carcajou (Jan 28, 2011)

I wish Monsanto would just disappear entirely. Damn i dislike that company.


----------

