Tesco goes to Zurich for tax break

Tesco goes to Zurich for tax break

Tesco looks for tax break in Switzerland after Jersey gets tough on VAT

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:

Profile: Andrew Higginson, Tesco group
finance and strategy director

M&S to invest £200m in reducing carbon
footprint

On the money

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