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It seems that hardly anybody is reading the article very carefully.
Say that Tesco is split into 2 companies, one huge one in the UK with a massive turnover, one tiny one in Switzerland with the rights to the name 'Tesco'.
Tesco UK makes a huge profit. Tesco Switzerland charges Tesco UK a huge amount of money to use the name 'Tesco'. This huge amount is subtracted from the Tesco UK profit, meaning they don't have to pay so much - perhaps even nothing - in tax in the UK, where the profit was earned. The huge amount is almost pure profit for the tiny Tesco Switzerland, which taxes it in Switzerland.
This is effectively the Virgin situation.
Ah ha, I knew the evil empire would be at it too. Is Tesco Satan incorporated?
Looks like this year some tax cuts will be introduced (from 2012/2013), namely 50% rate abolished and CGT dropped to below 20% (or taper relief reintroduced).
Looks like this year some tax cuts will be introduced (from 2012/2013), namely 50% rate abolished and CGT dropped to below 20% (or taper relief reintroduced).
I can't stand Branson and the Virgin hype machine. He does the same trick every time, launches a product in an already saturated market and then blames the resident market leader for being the market leader. Idiots fall for it.
I can't stand Branson and the Virgin hype machine. He does the same trick every time, launches a product in an already saturated market and then blames the resident market leader for being the market leader. Idiots fall for it.
Will say one thing for him, he knows when to jump. Virgin music stores were sold at a handsome profit to who was it zavvi? Then they went bust.
RB sees the ship is sinking; he's the guy standing on the iceberg as the rest of us on the titanic sinks to our doom.
"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain
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