UK bananas come from an island that doesn't grow any.
Bananas selling for £1 start life with 13p cost. Another 47p added through intragroup transactions, booked in tax havens. Supermarket incurs cost, sells for £1.
No tax paid on 47p profit.
HMRC makes no estimate of tax lost via profit shifting.
Bananas selling for £1 start life with 13p cost. Another 47p added through intragroup transactions, booked in tax havens. Supermarket incurs cost, sells for £1.
No tax paid on 47p profit.
HMRC makes no estimate of tax lost via profit shifting.
Comments