It is legitimate for tax campaigners to call for reform of the tax system, but it is not legitimate to criticise companies on the basis that they have claimed tax reliefs in accordance with the current rules, writes Heather Self.
A company recently targeted in the media for ‘avoiding tax’ is Alliance Boots. It is claimed that it has significantly reduced its UK corporation tax bill by claiming tax relief for interest deductions.
A report commissioned by trade union Unite anti-poverty charity War on Want and the Change to Win federation of US trade unions claims that Alliance Boots has avoided tax by claiming large tax deductions for interest payments on the debt that funded its buy out. The report suggests that Alliance Boots has ‘avoided at least £1.12bn tax since going private six years ago through taking on excessive debts profit...
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It is legitimate for tax campaigners to call for reform of the tax system, but it is not legitimate to criticise companies on the basis that they have claimed tax reliefs in accordance with the current rules, writes Heather Self.
A company recently targeted in the media for ‘avoiding tax’ is Alliance Boots. It is claimed that it has significantly reduced its UK corporation tax bill by claiming tax relief for interest deductions.
A report commissioned by trade union Unite anti-poverty charity War on Want and the Change to Win federation of US trade unions claims that Alliance Boots has avoided tax by claiming large tax deductions for interest payments on the debt that funded its buy out. The report suggests that Alliance Boots has ‘avoided at least £1.12bn tax since going private six years ago through taking on excessive debts profit...
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