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it's over a month since the tax bill was cancelled (at least, i assume so - googling it brings up a Private Eye article from Oct 15 and a Socialist Worker one from Sept 25) yet only now is this happening
It amounted to about £6bn, yet was cancelled in circumstances that look a bit dodge. There are more details here: http://www.independent.co.uk/opinion/commentators/johann-hari/johann-hari-protest-works-just-look-at-the-proof-2119310.html
"In my column last week, I mentioned in passing something remarkable and almost unnoticed. For years now, Vodafone has been refusing to pay billions of pounds of taxes to the British people that are outstanding. The company – which has doubled its profits during this recession – engaged in all kinds of accounting twists and turns, but it was eventually ruled this refusal breached anti-tax avoidance rules. They looked set to pay a sum Private Eye calculates to be more than £6bn.
Then, suddenly, the exchequer – run by George Osborne – cancelled almost all of the outstanding tax bill, in a move a senior figure in Revenues and Customs says is “an unbelievable cave-in.” A few days after the decision, Osborne was promoting Vodafone on a tax-payer funded trip to India. He then appointed Andy Halford, the finance director of Vodafone, to the government’s Advisory Board on Business Tax Rates, apparently because he thinks this is a model of how the Tories think it should be done."
There is, of course, some dispute from the Tory sycophants about if or not they actually had to pay such an amount, as it related to business dealings that crossed national boundaries. I think really the greater point to be made is how big business can use murky tax laws, their transnational positions and their friends in Government eager to please them to get out of things like this, and the way it ensures that, once again, every one at the bottom who lacks such advantages gets well and truly fucked.
thats being cut.
Think much will come of it?
It's not in the Government's interests to piss off their corporate BFFs, and international tax law is murky and undefined because of this that they can argue against it well enough.
Anybody got any good links on this story?
This (alleged) bill in particular relates to a subsidiary set up in a tax haven that may or may not have broken the law. This explains it better: http://www.thisismoney.co.uk/news/article.html?in_article_id=514832&in_page_id=2