BP is chasing a tax credit claim of $9.7bn (£6.3bn).
The oil giant, which is looking to bolster its finances after the Gulf of
Mexico oil spill, announced the move in its Q2 results,
BP’s group income statement for the second quarter posts a pre-tax charge of
$32.2bn linked to the oil spill and a tax credit of $9.79bn.
Under US tax laws, BP can offset a proportion of its losses against US tax,
but the move may prompt a backlash from Stateside critics.
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