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15 Mar 2011
THE DECISION BY Kraft to move to Switzerland for tax purposes will be questioned by MPs today.
The executive vice-president, Marc Firestone, will appear before the Commons' business, innovation and skills committee following its hostile takeover of Cadbury's for £11.5bn last year. He will explain the firm's move to Zurich, announced in December. The company paid £200m in tax in Britain in 2010, and the move led to a sharp reduction in its corporation tax bill, The Times reported.
Further reading
The committee will demand that Kraft extends its promise to protect UK manufacturing jobs beyond March 2012. The company has already reneged on its promise to keep open Cadbury's Somerdale plant.
It is not known by how much the move will reduce Kraft's tax bill.
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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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