HuffPo’s Luxembourg Tax Dodge Bonanza Part II Pays Lower Tax Rate Than Starbucks

The Huffington Post is attacking Starbucks’ tax dodging this morning with the claim that despite earning millions in the UK it pays only 1% in corporation tax. Another headline clearly demonstrating how Mehdi Hasan’s appointment has shifted Arianna Huffington’s website markedly to the left. That left-wing politics are subordinate to corporate profiteering is graphically illustrated by the fact that AOL pays even less UK corporation tax than Starbucks, less than 1%, a miniscule 0.15%:

The latest company accounts available show that in 2010 AOL UK Limited, HuffPo‘s owners, had a revenue of some £78 million. Their accountants certainly earned their fees ensuring that AOL paid just £122,000 in corporation tax. They cleverly and arguably somewhat aggressively pulled £30 million out of the reach of the UK tax authorities by “repatriating” a dividend payment to AOL UK’s sole shareholder – a tax avoidance special purpose vehicle (SPV) AOL Europe Sarl, registered in the tax haven of Luxembourg. Giving AOL/HuffPo an effective tax rate of less than 1% despite returning a massive 38% of revenue to shareholders.

Not only does Arianna not pay her UK bloggers, her company doesn’t pay UK taxes either. Guido applauds their ingenuity in legally avoiding taxes, however the hypocrisy reeks. Left leaning HuffPo campaigns against tax avoidance yet shelters nearly half its annual earnings offshore in Luxembourg. People in offshore glass houses shouldn’t throw large, tax-shaped stones…

See also: Introducing Tax Avoiding HuffPo Luxembourg




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Diane Abbott on Amber Rudd:

Who can have confidence in Amber Rudd to make far-reaching changes to the Home Office if she doesn’t seem able to get basic facts right?”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Heidi Bye? No Comment on Labour MP Quit Rumour Heidi Bye? No Comment on Labour MP Quit Rumour
Security Risk Sugar Baby Met Dave in No 10 Security Risk Sugar Baby Met Dave in No 10
London Knife Crime Up 21% London Knife Crime Up 21%
Len Threatens Labour MPs Len Threatens Labour MPs
He Who Must Not Be Named He Who Must Not Be Named
Williamson at Smeeth Hearing in Support of Her Abuser Williamson at Smeeth Hearing in Support of Her Abuser
Bastani Not Going to IPPR Bastani Not Going to IPPR
Labour Parliamentary Candidate: “I’m In The Mood to Beat Up Prince William” Labour Parliamentary Candidate: “I’m In The Mood to Beat Up Prince William”
Mogg: Number 10’s Customs Partnership Is a ‘Cretinous Betrayal of Good Sense’ Mogg: Number 10’s Customs Partnership Is a ‘Cretinous Betrayal of Good Sense’
Why Brexiteers Are Worried Why Brexiteers Are Worried
Two More Labour Candidates Posted About “Illegal Sexuality” and “Jewish Money” Two More Labour Candidates Posted About “Illegal Sexuality” and “Jewish Money”
Labour Spent £2 Million on Private Mailshots Labour Spent £2 Million on Private Mailshots
May Told to Ditch Customs Partnership “Turkey” May Told to Ditch Customs Partnership “Turkey”
Ministers Warn May: We Must Leave Customs Union Ministers Warn May: We Must Leave Customs Union
Adam Spliff Institute Celebrates 420 Adam Spliff Institute Celebrates 420
Nick Timothy Leaves Twitter Nick Timothy Leaves Twitter
Owen’s Descent Continues Owen’s Descent Continues
Producer of Labour’s Race Row Election Broadcast Tweeted About “Jewish Kapos” Producer of Labour’s Race Row Election Broadcast Tweeted About “Jewish Kapos”
UK Tech Investment Surges 115% UK Tech Investment Surges 115%