Barclays avoids £2 billion in tax via Luxembourg tax scheme

But people on £70 a week benefits are the problem 🙄

https://www.theguardian.com/business...embourg-scheme

group losses can be transferred between UK subsidiaries in the same way as has happened here. Losses can also be carried forward indefinitely.

The only issue I see is that Luxembourg has a lower rate of corporation tax, everything else is available to UK based companies.

Quote:

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Originally Posted by DryCleaning

group losses can be transferred between UK subsidiaries in the same way as has happened here. Losses can also be carried forward indefinitely.

The only issue I see is that Luxembourg has a lower rate of corporation tax, everything else is available to UK based companies.

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That's why Amazon is there .

Its a member country of the EU

Why does it allow such strange activities to ??

A while back leaked documents show that around 340 major corporations, including Amazon, Deutsche Bank, Pepsi, Ikea, Accenture, Procter & Gamble, Heinz, Dyson, JP Morgan and FedEx have used the Luxembourg facilities.

https://theconversation.com/luxembou...poration-33969