Europe, Middle East and Africa Oil and Gas Correspondent
Tom's Feed
Jan 30, 2013

BP reorganises core oil and gas production unit

LONDON, Jan 30 (Reuters) – BP said it was making ten senior
management changes in a reorganization of its core oil and gas
production unit, continuing a reversal of the structure adopted
in the wake of the Gulf of Mexico oil spill.

The move is the latest in BP’s struggle to return to normal
as it continues to tackle legal challenges in the United States
and a share price a long way short of its pre-spill levels.

Jan 29, 2013

UK children’s magazine promotes adult video games

LONDON (Reuters) – A British magazine distributed by a joint venture of Conde Nast and Hearst Corporation and aimed at primary school children has been featuring images of adult-rated video games.

The most recent issue of Cool Kidz, which is published by privately-owned LCD Publishing, contained images of five games that carried age ratings of 18 years, under the European gaming industry’s PEGI rating scheme.

Jan 22, 2013

Britain’s biggest companies see tax bill drop 18 percent

LONDON (Reuters) – The corporation tax bill for Britain’s biggest companies tumbled by 18 percent last year, despite a rise in profits, PricewaterhouseCoopers (PwC) said on Tuesday.

The accountancy firm’s annual report on tax payments by the Hundred Group, which represents about 100 of the biggest UK-listed and headquartered companies, comes amid intense public anger about tax avoidance.

Jan 22, 2013

Britain’s biggest companies see tax bill drop 18 percent in 2012

LONDON (Reuters) – The corporation tax bill for Britain’s biggest companies tumbled by 18 percent last year, despite a rise in profits, PricewaterhouseCoopers PWC.UL (PwC) said on Tuesday.

The accountancy firm’s annual report on tax payments by the Hundred Group, which represents about 100 of the biggest UK-listed and headquartered companies, comes amid intense public anger about tax avoidance.

Jan 21, 2013

MPs to quiz big four accountants on tax avoidance

LONDON (Reuters) – MPs plan to quiz representatives of the biggest accounting firms over their role in helping big companies minimise their tax bills, as politicians across Europe consider steps to clamp down on tax avoidance.

A spokesman for the Public Accounts Committee said it would hold a hearing on January 31, at which senior tax specialists from PricewaterhouseCoopers (PwC), Ernst and Young, KPMG, and Deloitte would testify.

Jan 21, 2013

UK lawmakers to quiz big accountants on tax avoidance

LONDON, Jan 21 (Reuters) – British parliamentarians plan to
quiz representatives of the biggest accounting firms over their
role in helping big commpanies minimise their tax bills, as
lawmakers across Europe consider steps to clamp down on tax
avoidance.

A spokesman for the Public Accounts Committee said it would
hold a hearing on Jan. 31, at which senior tax specialists from
PricewaterhouseCoopers (PwC), Ernst and Young, KPMG, and
Deloitte would testify.

Jan 21, 2013

HMRC sees increased tax avoidance by big business

LONDON (Reuters) – The UK tax authority said the amount of tax that big companies may have underpaid by using artificial intercompany transactions to inappropriately reduce taxable profits has risen 48 percent last year.

The figure comes as public anger grows over tax avoidance by big businesses and British MPs investigate possible remedies.

Jan 21, 2013

Taxman sees increased avoidance by big business

LONDON (Reuters) – The UK tax authority said the amount of tax that big companies may have underpaid by using artificial intercompany transactions to inappropriately reduce taxable profits has risen 48 percent last year.

The figure comes as public anger grows over tax avoidance by big businesses and British MPs investigate possible remedies.

Jan 20, 2013

Ethical investors step up focus on tax avoidance

LONDON (Reuters) – Growing anger at aggressive tax avoidance by big business has prompted ethical investors to consider shunning shares in companies that don’t pay their fair share of tax.

As governments struggle to balance massive budget deficits caused by the financial crisis, reports that big companies like Apple (AAPL.O: Quote, Profile, Research, Stock Buzz), Google (GOOG.O: Quote, Profile, Research, Stock Buzz) and Vodafone (VOD.L: Quote, Profile, Research, Stock Buzz) pay minimal taxes in some big markets have sparked public protests in Europe and the United States.

Dec 27, 2012

Special Report: How the UK tax authority got cozy with big business

LONDON (Reuters) – For Ian Barlow, Britain’s tax authority has gone from being fearsome to being really rather nice.

In the 1990s, when the accountant was head of UK taxation for KPMG, he argued Her Majesty’s Revenue and Customs (HMRC) was creating an “increasingly fierce environment” for corporations. But last month, Barlow, 61, said senior American business executives found the UK taxman’s approach “refreshing.”

    • About Tom

      "Tom leads our coverage of the oil and gas industry in Europe, the Middle East and Africa and is also author of 'Spills & Spin: The Inside Story of BP'. A former oil broker who turned to journalism 12 years ago, he is regularly interviewed on CNBC and other TV and radio stations on energy matters. Tom has reported from over twenty countries including Iran, Iraq, India, Pakistan, Tanzania, the U.S. and Russia. As Europe, Middle East and Africa Oil & Gas Correspondent, he has chartered the rise in oil prices to record levels, interviewed oil ministers and the CEOs of ..."
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