News Articles

Thursday, June 14, 2012

Vodafone says National Audit Office report vindicates its HMRC tax settlement

The National Audit Office has just published a report that looked at five large tax settlements agreed by HM Revenue & Customs in the UK. Although it expressed some concerns, the NAO concluded that all five settlements were reasonable and the overall outcome for the Exchequer was good.

Vodafone has issued a response, revealing that it was ‘case D’ in the report. The company concluded a legal dispute with HMRC in 2010, agreeing a tax payment of £1.25 billion.

Andy Halford, Vodafone Group Chief Financial Officer, said “For more than a year, Vodafone has been falsely accused of improper conduct. As we have consistently stated, those attacks were unwarranted and unjust. We acted with the utmost propriety throughout the HMRC settlement process, and the National Audit Office has now concluded that the outcome was good for the UK taxpayer. We welcome this vindication. Vodafone has always been a responsible company with a strong commitment to managing our affairs properly and diligently within the law and with full disclosure to all relevant tax authorities. Vodafone is a long-standing and significant contributor to the UK as a whole, not least in our role as the biggest dividend payer in the UK. We returned £6.7 billion in cash to our shareholders this year, who include virtually every major investment fund relied upon by millions of UK pensioners and savers.”

[Report (pdf)]

Print
Author: The Fonecast
0 Comments
Rate this article:
No rating

Categories: Networks and operators, NewsNumber of views: 5013

Tags: uk vodafone legal tax

Leave a comment

This form collects your name, email, IP address and content so that we can keep track of the comments placed on the website. For more info check our Privacy Policy and Terms Of Use where you will get more info on where, how and why we store your data.
Add comment

Follow thefonecast.com

Twitter @TheFonecast RSS podcast feed
Find us on Facebook Subscribe free via iTunes

Archive Calendar

«July 2021»
MonTueWedThuFriSatSun
2829301234
567891011
12131415161718
19202122232425
2627282930311
2345678

Archive

Terms Of Use | Privacy Statement