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UK MP calls for close look at tax on Vodafone-Verizon deal
Published in Bikya Masr on 02 - 09 - 2013

The head of the UK parliamentary committee on public accounts has called on tax officials to scrutinize closely Vodafone's pending sale of its stake in US operator Verizon Wireless.
This follows reports that that the UK-based company would pay just USD 5 billion tax on the sale worth USD 130 billion, thanks to the use of a Dutch holding company for the US assets.
MP Margaret Hodge, who chairs the committee, told the Guardian that HMRC officials should intervene at the earliest opportunity.
"HMRC must begin an absolutely thorough investigation to make sure that UK taxpayers receive the maximum to which they are entitled," she said.
She added that Treasury ministers should also examine whether there is a legal loophole being exploited by the British company.
BN


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