Vodaphone

[BigGully]

So you're pissed off about a big company who pay their tax according to the loopholes left for them by the UK Government and that means we should leave the EU?

Well it might be argued that they are hardly a valid voice when they comment that staying in might benefit the UK in terms of revenues ......

 

[ferris_ferrit]

Read it all - nowhere does it say that Vodafone owe UK plc £8bn.

Really looking forward to this detailed financial analysis of Vodafone's operations though. Presumably that is forthcoming and people won't just lazily post links to articles that don't even reinforce their point.

They don't owe it because they have been let off of it so you are technically correct, however it was a handshake deal between Vodafone and the then head of HMRC, doesn't make it right and was not a good deal for the UK tax payer. They effectively cheated us out of several billion pounds worth of tax, so in that respect I would say they owe us.

I doubt any of us would be let off our tax obligations with a quick chat to HMRC.

 

[beorhthelm]

They don't owe it because they have been let off of it so you are technically correct, however it was a handshake deal between Vodafone and the then head of HMRC, doesn't make it right and was not a good deal for the UK tax payer. They effectively cheated us out of several billion pounds worth of tax, so in that respect I would say they owe us.

no they never owed it. this issue, unless there's another of around £6-8bn, was based around the proceeds of the Mannesmann takeover (around 2000). they ended up with a large amount of cash held in the Luxembourg subsidiary. some journalist spotted this and proclaimed that they owed UK corporation tax on this, despite the fact that it never came back to the UK and was the proceeds from a German company. even without the EU rules on movement of capital, normal rules on corporation tax don't tax money abroad. when some of it was/is transfer to the UK company for dividend or other purposes, tax is applied.

 

[glasfryn]

Can you prove that please?

I just GOOGLED "how much does vodapone owe the british tax man"
and to be quite honest it would not matter if it was £80 if it were you or me the taxman would have the bailiffs knocking your door down ..................no fairness or transparancy