AstraZeneca Paying No UK Corporation a Tax

[PurpleGorilla]

Revealed: how AstraZeneca avoids paying UK corporation tax | Business | The Guardian

[PurpleGorilla]

It's the Boomers, see.

Probably...

http://www.theguardian.com/politics/...w-book-society

[meridian]

Revealed: how AstraZeneca avoids paying UK corporation tax | Business | The Guardian

Poor reporting yet again. Global profits of £4.5 billion, but their Dutch sandwich only generates a tax-deductible interest payment of £140m? Sensationalised for the masses.

[MrMarkyMark]

Poor reporting yet again. Global profits of £4.5 billion, but their Dutch sandwich only generates a tax-deductible interest payment of £140m? Sensationalised for the masses.

Agreed, but I think the main point here is they pay no corporation tax in the uK.
In addition, it is interesting that one of AZ's accounts advisors worked on a government panel prior

[_V_]

Each year in its annual report, AstraZeneca says: "We draw a distinction between tax planning using artificial structures and optimising tax treatment of business transactions and we engage only in the latter."

This is going in the limited company accounts report to Her Majesty's Robbing Barstards from now on.

[BrilloPad]

HMRC(and their puppets the government) could easily fix this.

Instead they harass ordinary working contractors who use legitimate avoidance schemes(dividends and expense claiming) to earn a fraction of what they could through going after large companies.

But don't worry! Help is at hand! IPSE are going to arrange sending letters to MPs. Panic over.

Carry on...

[BlasterBates]

The reason Atrsa Zeneca doesn't pay much tax in the UK is the fact that the US claim it's US tax, because most of their sales are in the US.

UK loses out to US in AstraZeneca tax row - Telegraph

[VectraMan]

“The use of this UK government-sponsored regime for tax planning purposes did not produce any tax savings for AstraZeneca. In 2013 and 2014, the AstraZeneca UK group of companies was not profitable due to patent expirations and continued investment in the research and development of new medicines.”

So did they make any profit or not? Seems to me rather than whining about not paying UK tax on global profits (like anybody is meant to) journalists should properly investigate the accounts.

[MrMarkyMark]

As I said earlier, this bit was of particular interest.
I'm guessing they wouldn't be doing it, or employing Ian Brimicombe if it was not well worth their while.

AstraZeneca’s top tax accountant, Ian Brimicombe, sat for several years on a Treasury committee advising the government on the changes in the law. Without one alteration, which came into force almost three years ago, the group’s avoidance structure would not have worked.

[PurpleGorilla]

So did they make any profit or not? Seems to me rather than whining about not paying UK tax on global profits (like anybody is meant to) journalists should properly investigate the accounts.

Sure they made a loss in the UK. Might as well wrap the UK operation up if it is so unprofitable...