Cadbury's American owners under fire after making £1.7bn in sales last year - but paying no corporation tax



Cadbury's American owners were under fire last night after it emerged they paid no UK corporation tax last year – despite generating over £1.7billion in sales.
Parent company Mondelez UK made profits of £177million in 2015, which under the standard tax rate would be billed at £36million.
However accounts filed by the US giant – which controversially took over Cadbury's for £11.5billion six years ago – reveal it lawfully avoided any payment to HMRC last year.
Critics said it showed that large firms were still able to avoid paying tax while small companies are hammered. They called on the... read more

 
17 October 2016 in Business, Views: 37
Source: Daily Mail
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