Mobile operator Vodafone is still feeling the recession's squeeze in Europe as it posted another drop in revenues for the quarter ending last month. The British group said its service revenue, including joint ventures, for the quarter was £10.155bn, down 3.5 per cent year on year following a 4.2 per cent slip in the previous …
But they're still making an obscene amount of profit right?
While paying very little in taxes.
Depends on your point of view. If you consider they are £24billion in debt then they made zero profit at all.
They pay governments for licenses, so you try the maths. Would you rather the UK government received
a) £4bn for a license
b) 28% of £4bn as the tax on the profit the would have made if they hadn't had to buy the license (which is £1.2bn in tax)
The world of tax is extremely complex, and the world needs to change international tax regimes. But you armchair economists who know fuck all should just shut up.
Ah Velv, You put it so well. And then you fell down at the last hurdle. If you'd just managed to hold yourself back from that final sentence it would have been great,