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% We went on a tax avoidance tour through the heart of London indy100 indy100 Indy100 logoNewsletter sign upRegister/Sign inTop 100NewsViralPoliticsCelebritiesScience &amp; TechVideoWishlistWishlistBooksFashion &amp; BeautyFood &amp; DrinkHome &amp; GardenKidsSports &amp; FitnessTechTravel &amp; OutdoorsMoreScience &amp; techVideoConversationsSportIdentitiesLifestyleShowbizTVSearchxNews <h1> We went on a tax avoidance tour through the heart of London </h1>Evan BartlettFeb 12, 2015 Our tour guides for the evening: ActionAid&#39;s Tom Barns and Natasha Adams Traipsing around the streets of London on a cold Tuesday evening in the middle of February talking about the complex workings of tax avoidance might seem a rather odd thing to do. And well it probably is.
Ella Rodriguez Member
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% We went on a tax avoidance tour through the heart of London indy100 indy100 Indy100 logoNewsletter sign upRegister/Sign inTop 100NewsViralPoliticsCelebritiesScience & TechVideoWishlistWishlistBooksFashion & BeautyFood & DrinkHome & GardenKidsSports & FitnessTechTravel & OutdoorsMoreScience & techVideoConversationsSportIdentitiesLifestyleShowbizTVSearchxNews

We went on a tax avoidance tour through the heart of London

Evan BartlettFeb 12, 2015 Our tour guides for the evening: ActionAid's Tom Barns and Natasha Adams Traipsing around the streets of London on a cold Tuesday evening in the middle of February talking about the complex workings of tax avoidance might seem a rather odd thing to do. And well it probably is.
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Dylan Patel 1 minutes ago
But whether it's legal tax minimising measures, like those of the company that David Cameron’s...
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Thomas Anderson 1 minutes ago

What' s the situation

In a 2013 study, ActionAid found that 98 of the FTSE 100 companie...
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But whether it&#39;s legal tax minimising measures, like those of the company that David Cameron’s wife works for, or the revelations leaked this week of widespread and systemic tax evasion by some clients of HSBC&#39;s Swiss subsidiary, tax is big news at the moment. Tax evasion and avoidance has left a huge hole in the public coffers, not only in Britain but in developing countries across the world too. So here I am, on that aforementioned cold Tuesday night in February, embarking on a tax avoidance tour with activists from ActionAid to find the answer to the all-important question: how do big businesses get away with paying less tax than the rest of us and what can we do about it?
Harper Kim Member
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But whether it's legal tax minimising measures, like those of the company that David Cameron’s wife works for, or the revelations leaked this week of widespread and systemic tax evasion by some clients of HSBC's Swiss subsidiary, tax is big news at the moment. Tax evasion and avoidance has left a huge hole in the public coffers, not only in Britain but in developing countries across the world too. So here I am, on that aforementioned cold Tuesday night in February, embarking on a tax avoidance tour with activists from ActionAid to find the answer to the all-important question: how do big businesses get away with paying less tax than the rest of us and what can we do about it?
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James Smith 7 minutes ago

What' s the situation

In a 2013 study, ActionAid found that 98 of the FTSE 100 companie...
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<h3>What&#39 s the situation </h3> In a 2013 study, ActionAid found that 98 of the FTSE 100 companies - the 100 most valuable companies listed on London&#39;s stock exchange - regularly use tax havens. As we wander through the backstreets of Mayfair - one of London&#39;s most upmarket neighbourhoods - our guides, Natasha and Tom, point out a consultancy firm that boasts of offering its clients &quot;structured wealth solutions&quot;.
Daniel Kumar Member
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What' s the situation

In a 2013 study, ActionAid found that 98 of the FTSE 100 companies - the 100 most valuable companies listed on London's stock exchange - regularly use tax havens. As we wander through the backstreets of Mayfair - one of London's most upmarket neighbourhoods - our guides, Natasha and Tom, point out a consultancy firm that boasts of offering its clients "structured wealth solutions".
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David Cohen 10 minutes ago
Expensive lawyers and accountants like these find legal loopholes for their clients to save them mil...
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Expensive lawyers and accountants like these find legal loopholes for their clients to save them millions, if not billions, of pounds through the use of tax havens. A lack of transparency in those havens means it can be hard to calculate exactly how much money is being lost but in Britain, for instance, HMRC figures show that the estimated &quot;tax gap&quot; - the difference between what is due in tax and what is actually paid - is 6.8 per cent of the total due, or about £34bn for the latest year with available data.
Aria Nguyen Member
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Expensive lawyers and accountants like these find legal loopholes for their clients to save them millions, if not billions, of pounds through the use of tax havens. A lack of transparency in those havens means it can be hard to calculate exactly how much money is being lost but in Britain, for instance, HMRC figures show that the estimated "tax gap" - the difference between what is due in tax and what is actually paid - is 6.8 per cent of the total due, or about £34bn for the latest year with available data.
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<h3>But developing countries are losing out too</h3> Edward Musosa, a Zambian activist visiting ActionAid (Picture: Evan Bartlett/i100) Companies listed on the FTSE 100 in London operate businesses in countries all across the globe. If they avoid paying tax in those countries, the revenue services are losing out on vital income that can help to alleviate poverty and pay for vital public services - like roads that the same companies use to transport their goods and schools in which their future employees are educated.
Kevin Wang Member
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But developing countries are losing out too

Edward Musosa, a Zambian activist visiting ActionAid (Picture: Evan Bartlett/i100) Companies listed on the FTSE 100 in London operate businesses in countries all across the globe. If they avoid paying tax in those countries, the revenue services are losing out on vital income that can help to alleviate poverty and pay for vital public services - like roads that the same companies use to transport their goods and schools in which their future employees are educated.
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ActionAid estimates that “developing countries lose three times more to tax havens than they receive in aid each year”. While dodging pedestrians along Piccadilly, Edward Musosa, an activist from the University of Zambia who is visiting ActionAid, told me that pushing for reform in the country is difficult. The companies hold a lot of power - increase taxes and they say the cost of production is too high.
Ava White Moderator
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ActionAid estimates that “developing countries lose three times more to tax havens than they receive in aid each year”. While dodging pedestrians along Piccadilly, Edward Musosa, an activist from the University of Zambia who is visiting ActionAid, told me that pushing for reform in the country is difficult. The companies hold a lot of power - increase taxes and they say the cost of production is too high.
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Madison Singh 16 minutes ago
If they close down then it means a loss of jobs and revenue for the country.Edward Musosa Neverthele...
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Lucas Martinez 8 minutes ago
After some team star jumps to warm up, Natasha and Tom use a stash of chocolate coins to demonstrate...
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If they close down then it means a loss of jobs and revenue for the country.Edward Musosa Nevertheless, with elections in Zambia next year, he hopes to start a similar tour back in Lusaka, the country&#39;s capital, and to make tax avoidance &quot;an issue for all the parties&quot;. <h3>How do they do it </h3> Some multinationals, because they have offices in countries around the world, can operate in one jurisdiction but divert their profits through their own subsidiaries based in havens to avoid paying the domestic rates of tax - something called &quot;profit-shifting&quot;.
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If they close down then it means a loss of jobs and revenue for the country.Edward Musosa Nevertheless, with elections in Zambia next year, he hopes to start a similar tour back in Lusaka, the country's capital, and to make tax avoidance "an issue for all the parties".

How do they do it

Some multinationals, because they have offices in countries around the world, can operate in one jurisdiction but divert their profits through their own subsidiaries based in havens to avoid paying the domestic rates of tax - something called "profit-shifting".
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Julia Zhang 3 minutes ago
After some team star jumps to warm up, Natasha and Tom use a stash of chocolate coins to demonstrate...
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Ethan Thomas 6 minutes ago
The African subsidiaries would pay millions in royalties to the Dutch company and ActionAid estimate...
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After some team star jumps to warm up, Natasha and Tom use a stash of chocolate coins to demonstrate how SAB Miller, the world&#39;s second biggest brewer, managed to minimise its tax bill. In 2011, ActionAid alleged that the company produced many local beers across Africa but the brands were listed in the Netherlands - a relative tax haven.
Ella Rodriguez Member
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After some team star jumps to warm up, Natasha and Tom use a stash of chocolate coins to demonstrate how SAB Miller, the world's second biggest brewer, managed to minimise its tax bill. In 2011, ActionAid alleged that the company produced many local beers across Africa but the brands were listed in the Netherlands - a relative tax haven.
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Natalie Lopez 4 minutes ago
The African subsidiaries would pay millions in royalties to the Dutch company and ActionAid estimate...
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SAB Miller wrote to ActionAid with this letter to strenuously deny any allegations that it engages i...
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The African subsidiaries would pay millions in royalties to the Dutch company and ActionAid estimates they saved around £20 million in tax that way. Meanwhile, small-time retailers often end up paying higher tax rates than a company that can boast net profits of $3.6bn a year, they claimed.
Jack Thompson Member
access_time 36 minutes ago
The African subsidiaries would pay millions in royalties to the Dutch company and ActionAid estimates they saved around £20 million in tax that way. Meanwhile, small-time retailers often end up paying higher tax rates than a company that can boast net profits of $3.6bn a year, they claimed.
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SAB Miller wrote to ActionAid with this letter to strenuously deny any allegations that it engages in &quot;aggressive tax planning&quot;. It explains that &quot;compliance with tax laws underpins all of our corporate governance practices&quot; and that &quot;avoiding substantial inefficiences (avoiding double taxation, as incorporated in OECD principles) which would otherwise inherently flow from having operations which trade across borders, is a necessary and reasonable activity&quot;. Around 15 people attended the tour through Mayfair (Picture: Evan Bartlett/i100) Moving on to a Starbucks near Berkeley Square, Tom and Natasha explain how the coffee company has made a &quot;mocha-ry of the tax system that leaves a bitter taste&quot;.
Julia Zhang Member
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SAB Miller wrote to ActionAid with this letter to strenuously deny any allegations that it engages in "aggressive tax planning". It explains that "compliance with tax laws underpins all of our corporate governance practices" and that "avoiding substantial inefficiences (avoiding double taxation, as incorporated in OECD principles) which would otherwise inherently flow from having operations which trade across borders, is a necessary and reasonable activity". Around 15 people attended the tour through Mayfair (Picture: Evan Bartlett/i100) Moving on to a Starbucks near Berkeley Square, Tom and Natasha explain how the coffee company has made a "mocha-ry of the tax system that leaves a bitter taste".
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Hannah Kim 19 minutes ago
Despite showing investors their huge profits in the UK, Starbucks had paid just £8.6m in tax on an ...
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How would improved tax laws help developing countries

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Despite showing investors their huge profits in the UK, Starbucks had paid just £8.6m in tax on an estimated £3bn in sales since 1998 by shifting some profits to the Netherlands in royalty payments and buying coffee beans from a trading subsidiary in Switzerland. After a public outcry, the company announced it would be paying a &quot;voluntary&quot; £10m per year in corporation tax, whether or not it was profitable, and emphasised that it had always organised its tax affairs &quot;according to the letter of the law&quot;. While these methods used by companies like SAB Miller and Starbucks aren&#39;t illegal, many believe they are highly immoral.
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Despite showing investors their huge profits in the UK, Starbucks had paid just £8.6m in tax on an estimated £3bn in sales since 1998 by shifting some profits to the Netherlands in royalty payments and buying coffee beans from a trading subsidiary in Switzerland. After a public outcry, the company announced it would be paying a "voluntary" £10m per year in corporation tax, whether or not it was profitable, and emphasised that it had always organised its tax affairs "according to the letter of the law". While these methods used by companies like SAB Miller and Starbucks aren't illegal, many believe they are highly immoral.
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Grace Liu 11 minutes ago

How would improved tax laws help developing countries

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<h3>How would improved tax laws help developing countries </h3> Not only does tax avoidance hinder development but it means countries have to rely more on international aid which often comes with clauses attached - i.e. it has to be spent in a certain way. Aid can also be subject to fluctuation.
Joseph Kim Member
access_time 60 minutes ago

How would improved tax laws help developing countries

Not only does tax avoidance hinder development but it means countries have to rely more on international aid which often comes with clauses attached - i.e. it has to be spent in a certain way. Aid can also be subject to fluctuation.
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If one party gets elected in a country they may decide to suddenly cut the aid budget, whereas tax is, or at least should be, a more consistent source of income that gives governments more autonomy. <h3>How does the tax tour help </h3> Being serenaded by bagpipes outside the Tanzania High Commission The tour, which has been running for a year and lasts about an hour and a half, points out the oft-unassuming offices of supposed FTSE100 tax-dodgers dotted across the city.
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If one party gets elected in a country they may decide to suddenly cut the aid budget, whereas tax is, or at least should be, a more consistent source of income that gives governments more autonomy.

How does the tax tour help

Being serenaded by bagpipes outside the Tanzania High Commission The tour, which has been running for a year and lasts about an hour and a half, points out the oft-unassuming offices of supposed FTSE100 tax-dodgers dotted across the city.
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People say that &#39;tax is a really complicated thing that only accountants know about&#39;. But in an informal environment like this, people feel a lot more comfortable discussing tax, which can otherwise be quite a dry topic. Tom Barns, ActionAid tour guideKeep reading...Show less <h3> US actors Reynolds and McElhenney to be honoured by people of Wales </h3> <h3> How will the next prime minister and Tory leader be chosen </h3> <h3> Ellis-Bextor to get the party started at new show for Edinburgh s Hogmanay </h3> Please log in or register to upvote this article <h2> Top 100 </h2> <h3> Conspiracy theorist goes against beliefs to give answer on The Chase </h3>the chasemoon landingthe chaseviral5m <h3> How likely is it that Boris Johnson could be prime minister again </h3>Boris Johnsonboris johnsontory leadership contesttory leadership racetory leaderTory leadershiptory leadershipConservativesconservative partyConservative Partyconservative leadership raceconservativesBoris JohnsonOct 21, 2022 <h3> The Rocky career of Dwayne Johnson </h3>Dwayne Johnsonthe rockblack adamwweDwayne Johnson21h <h3> Woman baffled after several co-workers complained about outfit </h3>tiktokviralworktiktok27m <h3> Man endures &#39 29 hour flight&#39 with screaming kids for the entire trip </h3>flightplanechildflightOct 12, 2022 <h3> Lorraine Kelly hits out at Madonna&#39 s &#39 boiled egg&#39 face </h3>madonnamadonnalorraine kellygmbshowbizplastic surgeryOct 11, 2022 <h3> Elon Musk is actually selling a &#39 Burnt Hair&#39 fragrance </h3>elon muskthe boring companyperfumeelon muskburnt hairOct 12, 2022 <h3> Jon Stewart slams Arkansas attorney general for her &#39 anti-trans law&#39 </h3>lgbt+transgenderlgbt+jon stewartapple tvarkansasus newsnewsOct 11, 2022 <h3> Just Stop Oil protester praised for &#39 great&#39 explanation of soup stunt </h3>just stop oilOct 19, 2022 <h3> Couple spark debate for &#39 scandalous&#39 wedding cake topper </h3>wedding cakeOct 12, 2022 <h3> Love Island star shows extent of how far influencers edit photos </h3>Love IslandOct 11, 2022 <h3> Steven Seagal describes Putin as one of &#39 greatest world leaders&#39 </h3>steven seagalOct 10, 2022 <h3> Lizzo wears empowering shirt after being fat-shamed by Kanye West </h3>lizzoOct 10, 2022 <h3> A lettuce just outlasted Liz Truss&#39 stint as prime minister </h3>Liz TrussOct 20, 2022The Conversation (0)
Alexander Wang Member
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People say that 'tax is a really complicated thing that only accountants know about'. But in an informal environment like this, people feel a lot more comfortable discussing tax, which can otherwise be quite a dry topic. Tom Barns, ActionAid tour guideKeep reading...Show less

US actors Reynolds and McElhenney to be honoured by people of Wales

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