WPP CEO sir Martin Sorrell has waded into the corporation tax debate on large companies, claiming the amount businesses should pay is largely a “question of judgement”.
Sorrell (pictured) argued companies such as Google and Starbucks, which have come under mass criticism for their lack of corporation tax payments, will fork out for tax more out of a sense of social responsibility than because of legal liabilities, the BBC reports.
He added that “doing good is good business”.
The global advertising group has relocated its headquarters back to London from Dublin following a move to Ireland in 2008 to reduce possible tax charges.
Initially, the move to Ireland was in protest at the potential “double taxation” of corporate profits proposed by the Labour government. However, the coalition dropped those plans, prompting the advertising business to come back.
CIMA study reveals qualified management accountants are paid £36,411 more than the typical British workers
CIot urges HMRC to consider a delay to the 1 September 2017 introduction of its new corporate offence of failure to prevent the criminal facilitation of tax evasion
The current business rates system is over-complex and reform is needed, but reforms should focus first of all on simplifying the appeals process, particularly for businesses which are subject to business rates exemption
The CIoT has called on the government to rethink its approach to ensuring online sellers pay the correct amount of VAT.