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Anorak | Today’s The Day Vodafone Gets A Kicking About Tax

Today’s The Day Vodafone Gets A Kicking About Tax

by | 30th, December 2013

VODAFONE has just released the numbers for how much corporation tax it paid in the UK last year. Nowt.

Yup, they made a profit of £294 million in the UK and paid absolutely nothing in corporation tax on that number. We’ll no doubt see the kids from UKUncut having a demo outside one or two of the stores today .

Vodafone has issued a new defence of its tax affairs as revealed it again paid no corporation tax in the UK last year, the third year in a row.

The mobile giant paid £275m in direct UK taxes, down from £338m the previous year. Corporation tax accounted for almost none of the bill, which was made up of other forms of taxation such as business rates on Vodafone premises and VAT.

The company, which published the figures for the second time as part of a new transparency effort, accused critics of failing to understand that corporation tax is due on profits rather than revenues. It said Britain was “one of the least-profitable mobile markets anywhere in the world”.

Vodafone reported UK profits of £294m on a turnover of £5.2bn last year

The thing is though those kiddies will be wrong

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Posted: 30th, December 2013 | In: Money Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink