Vodafone Group plc (LON:VOD) is facing condemnation today after a Reuters report revealed the company had failed to pay around £1 billion in taxes in the United Kingdom in the last decade. The telecommunications giant has taken tax credits instead.
Vodafone have managed to collect the tax credits by paying off interest on loans from withing the Vodafone Group. Interest payments are tax deductible in the United Kingdom, and so the company has managed to avoid tax by paying money to itself.
Those credits mean the company may not have to pay taxes in Great Britain for some time to come. Nobody...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full ArticleAlready a member? Log in here
