Tesco goes to Zurich for tax break
Tesco looks for tax break in Switzerland after Jersey gets tough on VAT
Tesco has attempted to retain a tax
break by moving its CD and DVD operations from Jersey to Zurich.
Pressure from the UK has led to the crackdown on a VAT loophole that allowed
retailers to distribute tax free CDs and DVDs from Jersey, reported the
FT.
Goods worth less £18 can be imported into the EU without incurring a VAT
charge.
Further reading:
Profile: Andrew Higginson, Tesco group
finance and strategy director
M&S to invest £200m in reducing carbon
footprint