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AstraZeneca Paying No UK Corporation a Tax
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Originally posted by zeitghostIt's the Boomers, see.
http://www.theguardian.com/politics/...w-book-society -
Originally posted by PurpleGorilla View PostComment
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Originally posted by meridian View PostPoor reporting yet again. Global profits of £4.5 billion, but their Dutch sandwich only generates a tax-deductible interest payment of £140m? Sensationalised for the masses.
In addition, it is interesting that one of AZ's accounts advisors worked on a government panel priorThe Chunt of Chunts.Comment
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Each year in its annual report, AstraZeneca says: "We draw a distinction between tax planning using artificial structures and optimising tax treatment of business transactions and we engage only in the latter."First Law of Contracting: Only the strong surviveComment
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HMRC(and their puppets the government) could easily fix this.
Instead they harass ordinary working contractors who use legitimate avoidance schemes(dividends and expense claiming) to earn a fraction of what they could through going after large companies.
But don't worry! Help is at hand! IPSE are going to arrange sending letters to MPs. Panic over.
Carry on...Comment
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The reason Atrsa Zeneca doesn't pay much tax in the UK is the fact that the US claim it's US tax, because most of their sales are in the US.
UK loses out to US in AstraZeneca tax row - TelegraphI'm alright JackComment
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“The use of this UK government-sponsored regime for tax planning purposes did not produce any tax savings for AstraZeneca. In 2013 and 2014, the AstraZeneca UK group of companies was not profitable due to patent expirations and continued investment in the research and development of new medicines.”Will work inside IR35. Or for food.Comment
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As I said earlier, this bit was of particular interest.
I'm guessing they wouldn't be doing it, or employing Ian Brimicombe if it was not well worth their while.
AstraZeneca’s top tax accountant, Ian Brimicombe, sat for several years on a Treasury committee advising the government on the changes in the law. Without one alteration, which came into force almost three years ago, the group’s avoidance structure would not have worked.The Chunt of Chunts.Comment
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Originally posted by VectraMan View PostSo did they make any profit or not? Seems to me rather than whining about not paying UK tax on global profits (like anybody is meant to) journalists should properly investigate the accounts.Comment
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