interestrateripoff Posted June 7, 2013 Share Posted June 7, 2013 Vodafone pays no UK corporation tax for second year running despite earning £5 billion in sales Vodafone paid no UK corporation tax for the second year in a row, it was revealed today in its annual report. The company had sales of £5 billion in Britain in the year to March and made an operating profit of £294 million, according to its results. But the mobile giant tried to head off a row by insisting critics should look at its total contribution through other taxes. Vodafone was able to slash its corporation tax bill to zero because it legally claimed allowances for investment in infrastructure such as mobile spectrum and interest payments. Great headline by the Indy! Although once more it appears Vodafone has paid it's tax upfront with the spectrum bid. Would we be better off taking a % of month line rentals for tax on the spectrum? Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted June 7, 2013 Share Posted June 7, 2013 imo building a mobile network infrastructure seems quite fair to get tax relief. I wouldnt want to build one. Starbucks on the other hand.... Quote Link to comment Share on other sites More sharing options...
Lewis Gordon Pugh Posted June 7, 2013 Share Posted June 7, 2013 Drip drip drip until the Bilderberg group comes up with the solution. A global tax system, centrally governed by a few wealth people and corrupt to the core of course. Quote Link to comment Share on other sites More sharing options...
billy budd Posted June 8, 2013 Share Posted June 8, 2013 imo building a mobile network infrastructure seems quite fair to get tax relief. I wouldnt want to build one. Starbucks on the other hand.... Agreed, surely that is legitimate offsetting of genuine business costs incurred in the UK. Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted June 8, 2013 Share Posted June 8, 2013 imo building a mobile network infrastructure seems quite fair to get tax relief. I wouldnt want to build one. Starbucks on the other hand.... ....are planning to invest in a coffee pipeline ? Quote Link to comment Share on other sites More sharing options...
frozen_out Posted June 8, 2013 Share Posted June 8, 2013 (edited) I suppose I could do my own research, but someone here might know... Is 5bn the revenue for the entire Vodafone group, or just the UK part? £5bn revenue doesn't seem a great deal of money for such a large company. Edit: Just read the article and got the answer Edited June 8, 2013 by frozen_out Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted June 8, 2013 Share Posted June 8, 2013 Agreed, surely that is legitimate offsetting of genuine business costs incurred in the UK. I have read the article and I cannot see where the story is. Quote Link to comment Share on other sites More sharing options...
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