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FEB 13, 2013 - New Statesman

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PAC to examine tax affairs of IT firms

Firms used several methods to keep taxes low.The UK Parliament's public accounts committee (PAC) is considering examining the tax affairs of information technology firms that supply the public sector. In its investigation of nine public sector suppliers from 2007 to 2011, the Financial Times (FT) found that the firms paid only £527m in corporation tax against their UK sales of £62bn. The IT firms used several methods to keep taxes low, including recording UK sales in low-tax jurisdictions. The PAC inquiry would be part of a wider probe into how much tax is paid by ... Read More

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