Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Foreign firms owe British taxman £5.5bn: report  Join our daily free Newsletter

MENAFN - AFP - 03/11/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - AFP) Foreign companies in Britain owe around 5.5 billion in taxes, figures unearthed by The Times newspaper showed Saturday.

Her Majesty's Revenue and Customs (HMRC), the tax-collecting body, has identified 258 big multi-national firms thought to have outstanding tax bills amounting to that sum, the daily said.

According to figures the newspaper obtained under Britain's freedom of information laws, British businesses owned by foreign parent firms made up 44 percent of all potential tax lost through underpayments by the kingdom's largest companies.

Margaret Hodge, who chairs parliament's Public Accounts Committee cross-party scrutiny body, told The Times: "Over the past few months there has been growing anger at what is seen to be unfairness in the tax system.

"If you're rich, you get away with tax avoidance, and if you're an ordinary person, you pay your fair share."

HMRC chief executive Lin Homer is to be questioned by the committee on Monday.

In total, some 551 British and foreign big firms are thought to owe HMRC at total of 12.5 billion (15.6 billion euros, 20 billion) in tax.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help