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back to article Vodafone squirrels cash into Blighty nightly as Europe falters

Vodafone's numbers for the tail-end of 2011 show the network doing pretty well, though it admitted husbanding cash back to the UK nightly just to be on the safe side. It won’t surprise anyone that trading in Italy and Spain has been a bit grim lately, and Vodafone hasn't broken the figures out for Greece but it has pulled out …

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  1. PassiveSmoking
    Mushroom

    Good for them

    Maybe with all these profits coming in they can finally get around to paying the millions of pounds of tax they sweet talked their way out of.

    11 1
  2. Anonymous Coward
    Anonymous Coward

    confused here

    When you move money around countries and don't pay any tax's - then isn't that called money laundering?

    Though i realy have no love for vodapain on many levels so I'll admit I'm biased in my reasoning here.

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  3. Jim 59

    Tax

    Just pay your tax.

    3 1
  4. daviesjohn

    Greece - Vodafone did break out the figures

    Service revenue down 8.4% for calendar Q4. In the spreadsheet linked near the top of this page http://www.vodafone.com/content/index/investors/reports/financial_results.html

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  5. Cynical Observer
    Thumb Down

    The accounts will be busy

    Wonder how they will qualify all this to avoid paying excessive (any?) taxes on it.

    Oh another lunch with HMRC - it's a hard life

    2 2
  6. Dom 3

    Vodafone Spain...

    ought to be able to make a bleedin' profit - they charge enough. I have / had a vodafone.es PAYG SIM. At times I think it was cheaper to use a UK SIM despite it being on a roaming tariff. About 50p a minute - even to the same sodding network.

    1 0
  7. GitMeMyShootinIrons
    Joke

    They can avoid tax using the Redknap Plan!

    Just deny that you know anything about texting, email, money....in fact anything.... and you too can avoid paying tax!

    Now comes with free offer of England Manager's job!

    0 0
  8. Anonymous Coward
    Anonymous Coward

    So the know a safe bank to park their money in?

    Let us in on the secret.

    1 0
  9. bep
    Headmaster

    a single percentage

    Is that anything like one percent?

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  10. irish donkey
    FAIL

    ohh just dream of the tax flooding in

    That's it folks the recession is over. Vodafone will finally pay tax

    eh sorry we can't pay tax as the money only sits here overnight and the tax office is closed.

    So why did they back out of the deal in Greece... was it because Greece is in such a mess they would have to pay tax?

    Tax it appears is only for us poor people.

    Next thing we know U2 will move their operations here.

    shame

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  12. Sean Timarco Baggaley

    "Spain, Italy disappointing."

    No shit. Their coverage in Italy outside of urban or suburban areas is as close to fuck all as they can get without violating the terms of their bandwidth licensing agreements.

    The town I live in right now still hasn't even got 3G yet. From any of the network operators.

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  13. Andy 97
    Thumb Up

    Good

    I'm glad they run the company well; as my pension (and most of yours) are in some way invested in their success.

    0 2
  14. David Cantrell
    Boffin

    So they move their money overnight to where it can work hardest for them. Big deal. All large companies do that.

    0 1
  15. Andy Watt
    FAIL

    Bet the cash isn't flowing from Luxembourg to the UK

    Everybody's favourite EU tax haven of choice... the cash is more likely being "lent" to other Voda subsidiaries, as is their scheming little evoidance (not typo)...

    http://cc.bingj.com/cache.aspx?q=vodafone+luxembourg&d=4695971649556886&mkt=en-GB&setlang=en-GB&w=903829e1,c24d5967

    HMRC, hang your heads in shame, or kill Hartnett. Either will make you look slightly less shabby.

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