franhendy’s OFFSHORE WEEKLY

Your summary of the biggest tax, trade and investment headlines affecting International Business and Financial Services. France Attacks US Tech Firms. U.S and Listed Multinationals in Mexico Tax Avoidance Probe. Obama Rhetoric on Offshore Profits Criticised. Ethical Fund Manager Pulls Amazon Investment. New Pay-Up First Tax Avoidance Plan Criticised. EU Parliament Urged to Ban Shell … More franhendy’s OFFSHORE WEEKLY

Olympic Torch Sales to be Taxed.

“Every little helps“. This is the marketing slogan of Tesco – British grocer and general merchandiser – and the third largest retailer in the world after Wal-Mart and Carrefour. With net income last year of £2.6bn Tesco understands that even the smallest contributions help the bottom-line, especially in a recession. Perhaps this is also the thinking of … More Olympic Torch Sales to be Taxed.

“Extremely misleading and lacking in context”…

…was the response by Glaxo Smith Kline (GSK) to last Monday’s BBC Panorama ‘expose’ on the use of ‘round-tripping’ and ‘income stripping’ tax avoidance techniques by UK conglomerates like GSK and North & Shell. In its defence GSK points out that the company is a global with 95% of its sales outside of the UK with 20% … More “Extremely misleading and lacking in context”…