NEWS & MEDIA

The Bank of England has loaned £325 million to cruise ship companies despite the United States Government excluding the industry from its financial assistance programme due to its links to offshore tax havens.

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The decision of the European Court of Justice (ECJ) on the Apple case means that Ireland will have to pay back €13bn in taxes they were told to collect from the company by the European Commission. But that should not stop other governments making sure that tax is properly accounted for.

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The BoE has published a list of 53 companies receiving CCFF loans. We calculated that over 29% of the loans were given to companies with links to tax havens.

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Leaked documents reported in the Financial Times indicate that the UK is to make online marketplaces such as Amazon and eBay liable to collect VAT on behalf of their sellers.

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WHAT WE DO

TaxWatch is the UK’s only charity dedicated to compliance and sound administration of the law in the field of taxation. We are an investigative think tank which conducts forensic research and analysis on tax avoidance, tax policy, and tax law, publishing our research to improve public understanding of tax issues.
Through our work we seek to encourage high standards of tax conduct and civic responsibility.
We are independent of any political party.

TAXWATCH INVESTIGATIONS

Swedish goats, Japanese hedgehogs and Batman

£324m of taxpayer money has been spent subsidising “culturally British” games, including Batman, Sonic, and Goat Simulator. To receive this relief, developers have to pass the BFI’s test – which we show is almost impossible to fail.

Netflix

No Tax and Chill: Netflix’s Offshore Millions

Our research reveals that the online video company Netflix streamed up to $430m of profit from their international operations into tax havens in 2018, while paying no corporation tax in the UK.

Corporate Tax and Tech companies in the UK

Despite a supposed international clampdown, the top 5 tech companies avoided an estimated £5bn UK tax in last five years.