Europe, Middle East and Africa Oil and Gas Correspondent
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Jun 14, 2013

Factbox: How to tackle corporate tax avoidance

LONDON (Reuters) – Western governments have promised to tackle corporate tax avoidance following revelations of the widespread use of contrived structures to minimise payments.

Leaders at a G8 Summit of leading economies next week in Northern Ireland will discuss the issue and the Organisation for Economic Co-operation and Development will table a list of measures to put to the G20 group in Moscow in July.

Jun 13, 2013

Bermuda says committed to transparency convention

LONDON, June 13 (Reuters) – Bermuda has agreed to back an
international financial transparency treaty that is aimed at
stamping out tax evasion, the British government said on
Thursday, boosting Prime Minister David Cameron ahead of the G8
summit meeting next week.

“Bermuda is strongly committed to joining the Multilateral
Convention on tax-information sharing,” Bermudan Premier Craig
Cannonier was quoted as saying in a statement circulated by the
British Foreign Office.

Jun 12, 2013

MPs’ report criticises Google’s tax affairs

LONDON (Reuters) – British MPs described Google’s tax affairs as “contrived” in a report released on Thursday and called on the UK tax authority to vigorously investigate whether the company was acting within the law.

The parliamentary investigation was prompted by a Reuters report, which showed the company employed staff in sales roles in London, even though it had told MPs in November its British staff were not selling to UK clients – an activity that could boost its tax bill substantially.

Jun 12, 2013

UK lawmakers’ report criticises Google’s tax affairs

LONDON, June 13 (Reuters) – British lawmakers described
Google’s tax affairs as “contrived” in a report released on
Thursday and called on the UK tax authority to vigorously
investigate whether the company was acting within the law.

The parliamentary investigation was prompted by a Reuters
report, which showed the company employed staff in sales roles
in London, even though it had told lawmakers in November its
British staff were not selling to UK clients – an activity that
could boost its tax bill substantially.

Jun 12, 2013

Bermuda says won’t agree UK Territories tax deal before G8

LONDON, June 12 (Reuters) – Bermuda’s premier is not ready
to sign an international transparency convention that he said
Britain’s prime minister had planned to achieve ahead of the G8
summit in Northern Ireland next week, potentially scuppering a
broad deal.

Bermuda’s Premier Craig Cannonier told Reuters on Wednesday
he was ready to accept wider sharing of information with
international tax authorities but was not ready to commit to
signing a convention already agreed by more than 50 countries.

Jun 12, 2013

Bermuda premier says UK territories won’t sign tax deal before G8

LONDON (Reuters) – Britain’s overseas territories will not sign up to an international convention aimed at tackling tax evasion ahead of the G8 summit in Northern Ireland next week, the premier of Bermuda said on Wednesday.

British Prime Minister David Cameron has invited the mainly Caribbean territories to London ahead of hosting the annual gathering of the G8 group of leading economies, at which he has put tax avoidance and evasion high on the agenda.

Jun 7, 2013

Vodafone says paid no UK corporation tax in past year

LONDON, June 7 (Reuters) – Vodafone Group Plc said
it paid no corporation tax in Britain for the year to March
2013, prompting fresh criticism from campaigners who have made
the UK mobile telephone group a target in the debate on
corporate tax payments.

Revelations of profit shifting by big companies have
provoked anger among austerity-weary citizens across Europe and
political leaders have pledged to act.

Jun 6, 2013

Analysis: Scrap corporate tax and benefit long term, some conservatives say

LONDON (Reuters) – As western politicians consider moves to clamp down on corporate tax avoidance, some conservative economic thinkers say the damage done by avoidance is overstated and any remedies are more likely to do economic harm than good.

Revelations that companies including Apple Inc, Google Inc and Amazon.com Inc have shielded billions of dollars in profits from taxes by using tax havens have ignited a public debate on the issue.

Jun 6, 2013

Scrap corporate tax and benefit long term, some conservatives say

LONDON (Reuters) – As western politicians consider moves to clamp down on corporate tax avoidance, some conservative economic thinkers say the damage done by avoidance is overstated and any remedies are more likely to do economic harm than good.

Revelations that companies including Apple Inc (AAPL.O: Quote, Profile, Research), Google Inc (GOOG.O: Quote, Profile, Research) and Amazon.com Inc (AMZN.O: Quote, Profile, Research) have shielded billions of dollars in profits from taxes by using tax havens have ignited a public debate on the issue.

Jun 3, 2013

Bermuda is no tax haven says finance minister

LONDON (Reuters) – Bermuda is not to blame for companies such as Google using Bermudan subsidiaries to shelter billions of dollars from U.S. and European tax authorities, the territory’s finance minister said on Monday.

Google has come under fire from British lawmakers for channeling billions of dollars a year through an Irish subsidiary to a Dutch sister company which then passes the money to another affiliate in Bermuda.

    • 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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