Alliance Boots defends tax position
FD reveals confusion over targeting of Boots by UK Uncut
ALLIANCE BOOTS yesterday moved to defend its record on tax after being targeted by the protest group UK Uncut.
The Independent reports that the defence came as the company, owners of the Boots chain of pharmacies, unveiled trading profits that reached more than £1bn.
Finance director George Fairweather is quoted saying he did not understand why the company was being picked on and confirmed that the company is paying corporation tax in the UK.
Executive chairman Stefano Pessina is described by The Independent as “exasperated” as he insisted money was not being moved to Zug, the Swiss canton where the company is registered, and that it was not being distributed to private equity owners KKR.
The company’s annual report is not due out until later this week. A Boots store was targeted by UK Uncut on Oxford Street, London, in January this year.