Tesco looks for tax break in Switzerland after Jersey gets tough on VAT
Accountancy Age, 28 Mar 2007
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:
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