October 12th, 2012

Introducing Tax Avoiding HuffPo Luxembourg

HuffPoUK have jumped on the tax status exposé bandwagon, lambasting those terrible internet companies for avoiding tax:

At least they have been gracious enough to admit AOL does not make it into the top five companies on the internet. Guido wonders though, would that by any chance be the same HuffPo UK that is owned by AOL Limited, whose parent company is the Luxembourg-registered AOL Europe Société à responsabilité limitée?

The HuffPoUK exposé makes clear the benefits of such an arrangement:

“Amazon, the UK’s most popular shopping site, generated £3.2 million in UK profits last year yet managed to pay zero corporation tax as its European headquarters are registered in the tax haven of Luxembourg.”

Loads of media organisations have similar set ups, though most would not be so stupid as to throw stones from inside Arianna’s glasshouse. There was no byline on the post –  it seems whoever wrote it is ashamed to put their name to the: Biggest Piece of Hypocrisy Ever Seen on the Internet.™

UPDATE:


60 Comments

  1. 1
  2. 2
    Religion: The Original Sin says:

    UK sales over the past three years, according to the SEC filings, were between £7.6bn and £10.3bn. If the same profit margin was applied, this would have generated taxable profits of £266m-£360m and yielded notional UK corporation tax of up to £100m.

    Like

  3. 3
    Albie the Fish says:

    First

    Like

  4. 5
    Aunty Matter says:

    I’m sure the BBC will investigate this, the BBC does not believe in tax dodging

    Like

  5. 6
    Mehdi Hasan says:

    You are all still cattle.

    Like

  6. 12
  7. 16
    Tuscan Tony says:

    In defence of the Huffington Post this is completely in accordance with their guiding socialist principles, i.e. recommending the extraction and use of other people’s money but never your own.

    Like

  8. 18
    Philip Green says:

    What is this tax you speak of?

    Like

  9. 20
    UKIP.i.am.awake says:

    It is quite simple. If a government wants international companies to pay tax in that country rather than countries (like Ireland and Luxemburg) then it should not over-exploit job-creating companies with high corporation taxes. The fault is not with companies but with greedy governments. Taxes kill jobs and kill growth.

    Like

  10. 30
    BBC DG says:

    Get me a story. We need a big story. Make it up (again) if you have to.

    QUICKLY.

    Like

  11. 31
    Polly from her Tuscan Estate says:

    Never trust a tax return from a man who buys ink by the barrel

    Like

  12. 34
    great news says:

    The tory joke ‘Work Programme’ continues to be shit-useless at finding or helping people find jobs but is hugely increasing the number of people punished for not having the jobs that don’t exist.

    Soon there will be so many people hating all you liblabcon scum you will have nowhere to hide. Regime change and guillotines heading your way soon.

    ha ha ha ha

    Like

  13. 35
    Living in 98 percent white Merseyside says:

    I read the Huffington Post but the mods there are ten times worse than on this blog.

    Like

  14. 46
  15. 49
    keredybretsa says:

    You’ll have to HUFF & PUFF to blow this away!

    Like

  16. 51
    Anonymous says:

    Put the blame where it belongs – on those who make the laws. Surely we haven’t yet reached the stage where we are expecting voluntary contributions (in this case it seems from foreigners) to pay any part of the bills our polititians run up. A root and branch reform of tax laws is of course long overdue. Tax law should be short and simple enough to allow ordinary taxpayers to file their tax returns without the costs of an advisor, and solid enough to avoid distortion of competition no matter how clever the advisor. If , though, goods and services are indeed lawfully being provided profitably by some without payment of tax, while others are being called upon to pay up, it is hard to understand why we are not hearing more complaints from those who suffer the unfair competition.

    Like

  17. 52
    EForster says:

    In simple terms, my spending is your income. If you are taxed I pay that tax when buying from you. The money comes from me when I spend my “after tax” income. Half our spending money is taken as tax on average.
    Everything else is specious. Can you take that in?

    Like

  18. 53
    Merdey Hasssann says:

    I have very strong opinions on this story, I’ll tell you what they are as soon as I have worked them out with help from the unions.

    Like

  19. 55
    Fuck Off Fenton says:

    Fuckwit Fenton and Mong Murphy cranked by this good. Let them be, they should know they’re on the fringe anyway.

    Like


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