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26 Jul 2010
Vodafone is to pay £1.25bn settlement to the taxman, bringing a long- running controlled foreign companies dispute to a close.
The telecoms giant, had originally set aside £2.2bn in its accounts to cover the potential costs of the 10-year legal battle, relating to how UK income is used in overseas divisions based in low-tax jurisdictions.
Vodafone has said it will spread the payment over five years, according to the Daily Telegraph.
George Osborne has pledged to review the CFC rules in moves to keep multinationals from shifting their tax base out of the UK.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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