Link: £300m tax saving for BT
If the complaint – made by network provider Vtesse – is upheld by the European Commission, then BT could face a fine amounting to billions of pounds.
Vtesse said BT has paid £1bn less a year in business rates than other companies after agreeing a special deal with the Inland Revenue.
The agreement was made in the late 1990s, said Vtesse, when the dotcom boom was still in full swing.
It claims that BT is making savings of £1bn each year.
BT has denied the claims saying the agreement was ‘above board’.
And they claimed they pay £300m every year, ‘which probably makes us the biggest rates payer in the UK’.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states