[MM-MALTS-L] Whisky Shenanigans

[Ralph Katzenell]

Ooops! Forgot this.
You can read the grubby story here:
http://www.guardian.co.uk/business/2009/feb/02/tax-gap-diageo-johnnie-walker

Ralph

----- Original Message -----
From: Ralph Katzenell 
Date: Monday, February 2, 2009 8:41
Subject: [MM-MALTS-L] Whisky Shenanigans
To: MaltManiacs operated former 'MALT-L' Whisky List 

> <BR>British taxpayers are being left to plug a multibillion-pound <BR>> hole in the public finances as hundreds of the country's biggest 
> companies increasingly employ complex and secretive tax arrangements to limit the amount they hand over to the exchequer. 


> The UK-based drinks giant Diageo plc has transferred ownership of brands worth billions of pounds, including Johnnie Walker, J&B and Gilbey's gin, to a subsidiary in the Netherlands where profits accrued virtually tax-free. Despite average profits of £2bn a year, it paid an average of £43m a year in UK tax - little more than 2% of its overall profits.
> ‭‮
> 
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