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

Corbynista media cheerleader Aaron Bastani says his friend Clive Lewis’s “b*tch” comment was:

“beneath any parliamentarian”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Sunday Show Highlights Sunday Show Highlights
Watch: Corbyn Condemns Clive Lewis Watch: Corbyn Condemns Clive Lewis
Lewis: “I Apologise Unreservedly” Lewis: “I Apologise Unreservedly”
Clive Lewis: “Get On Your Knees B****” Clive Lewis: “Get On Your Knees B****”
Heads Up: Parliament Tells MPs It’s Too Windy To Inspect Falling Masonry Heads Up: Parliament Tells MPs It’s Too Windy To Inspect Falling Masonry
Corbyn Stands By Disgraced Lavery Corbyn Stands By Disgraced Lavery
Mandelson Lies About Single Market Mandelson Lies About Single Market
Merkel: “Absolutely No Doubt” There Will Be A Deal Merkel: “Absolutely No Doubt” There Will Be A Deal
Sweden Drawing Up Brexit Trade Plans Sweden Drawing Up Brexit Trade Plans
Car Windscreen Smashed Inside Parliament Car Windscreen Smashed Inside Parliament
Russia Today Presenter Fibs With First Word on #BBCDP Russia Today Presenter Fibs With First Word on #BBCDP
Shameless Poetry Shameless Poetry
John Healey: Then and Now John Healey: Then and Now
Linesman MP Has Attended 96% of Votes, Better Record Than SNP MPs Linesman MP Has Attended 96% of Votes, Better Record Than SNP MPs
On The Red Carpet Last Night On The Red Carpet Last Night
Red Sky at Night, Jez’s Delight Red Sky at Night, Jez’s Delight
Arms Folded in Unity Arms Folded in Unity
Cliffe Quits Radicals After 12 Hours Cliffe Quits Radicals After 12 Hours
Davis: Brake Leaked His Own Letter Davis: Brake Leaked His Own Letter
Brake Misleads Bercow About Guido Story Brake Misleads Bercow About Guido Story