This comes from the Methodist Tax Justice Network:
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Oh dear! The Cadbury family will be turning in their graves. Do Swiss chocolatiers pay their taxes?
Do we know what adjustment gets them to taxable profit of zero? Brought forward losses?
Loan interest in the main
Edit: it’s inter company loan. Naughty naughty.
Won’t be buying on- vegetable fat with a bit if cocoa!
Quaker origins-like barclays and Rownentrees of York sold to nestle.
This is a good advert. Didn’t do the tabloid thing of quoting turnover for greater impact and thus piqued my interest to investigate how they had got taxable down to zero. A good example of how tax dodging issues can be raised by being accurate without being hysterical. This isn’t a dig at you Richard, but at the tabloid reporting and how this shows less can be more when it comes to showing injustice.
Well you won’t have to boycott for long now we have the interest cap rules coming into force
What taxes should Cadbury have paid that they have not? Presumably they have claimed allowable expenses against gross profit?
The rules are now being changed to prevent their abuse
We suggest that no matter what rules are put in place, the clever and amoral accountants who have written the laws in
the first place will provide the “legal” way round them to their wealthy clients…..individuals and corporations.
Will the proposed 30% cap be enough to make a difference in this case?
I would have gone lower,as the BEPS Monitoring Group suggested to the OECD
30pc is par for the course across Europe. Germany has 30 for example. The beps suggestion was between 10 and 30 I think so is consistent with the beps requirements
10 would also be consistent
Channel 4 Dispatches is spilling the beans on the Kraft Cadbury story tonight, it’s neither tasty nor pretty – even our old friend Jacob Rees-Mogg is not happy!
And from tax avoiding, employment outsourcing and offshoring Cadbury Kraft I took a very appropriate channel switch to BBC panorama’s too poor to stay warm. Talk about a divine and symbolic contradiction on the fundamental issue of private wants versus public need. Or put another way corporate greed leads to public squalor!
Damn! I deliberately missed too poor to saty warm because I thought it was another swipe at people living on benefits like benefit street, or can’t pay we’ll take it away. Programs I hate with a passion because of their delberate manipulation of people into reviling the undeserving poor. I will have to watch it on iplayer now.
Keith-I didn’t see that program but I doubt the BBC analysis of why this is happening would have gone very deep. The lack of heating being affordable is creating thousands of health issues our hospitals have to deal with. The Tories are happy to have hospitals over-burdened so that they can claim further privatisation is needed.
You’re right Simon it did ignore the fact that fuel poverty, as with all forms of poverty, is a political choice not an economic or social inevitability.