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[quote][i]Originally posted by Robbo[/i] Vodafone and tax Over the last year, Vodafone has faced a number of allegations regarding a historical settlement with the UK tax authorities, Her Majesty's Revenue and Customs (HMRC). The allegations are unjust, unwarranted and based on gross untruths. Tax: the facts •Vodafone has never received a tax bill for £8 billion or for the more commonly misquoted figure of £6 billion – a number HMRC themselves describe as an “urban myth”. •Vodafone will never receive a £6 billion or £8 billion tax bill in connection with any of the historical events examined by the HMRC, nor have we ever been ‘let off’ any such amount. •Vodafone pays tax in every country in which we operate. In the last financial year, we paid £2.6 billion in corporate taxes on our worldwide profits. •For every £4 we make in profit, we pay £1 in corporate taxes around the world. •The amount we paid into the public purse worldwide last year rises to £9 billion if you include payroll and sales taxes as well as fees for radio spectrum. •Companies are taxed on their profits. 97% of Vodafone Group's operating profit comes from outside the UK. Although the UK only accounts for 3% of our global operating profit, last year we paid around £700 million to the UK Exchequer in corporate taxes, business rates, VAT, payroll taxes and fees for radio spectrum. Rigorous process The Vodafone/HMRC settlement was focused on some of the most complex tax legislation anywhere in the world. It involved nine years of legal argument through two independent UK tax authority appeals, three court cases (before the European Court of Justice, the UK High Court and Court of Appeal), followed by an application to the UK Supreme Court. This detailed examination of the points of law involved was then followed by a full and rigorous six month-long technical and legal review by HMRC of all of the relevant material. The outcome was a full and final settlement with HMRC of £1.25 billion, reflecting all liabilities. To be clear: Vodafone has no unpaid tax bill in the UK, and those who claim otherwise do so without any foundation whatsoever. Vodafone and the UK We have made a huge contribution to the UK for more than 25 years, and we're committed to the highest standards of social responsibility and corporate governance. We employ more than 9,000 people in the UK and provide indirect employment to tens of thousands more. Almost half of our investors are UK residents. We have more than 500,000 individual shareholders in the UK and Ireland, and virtually every major UK pension fund is a Vodafone shareholder. This year, Vodafone will return £6.7 billion in cash to our shareholders. We're now the biggest dividend payer in the FTSE 100, responsible for £1 in every £8 of cash paid out to the investment funds relied upon by millions of UK pensioners and savers. Over the last four years, we've returned more than £26 billion to our shareholders. :look: [/quote]
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