Socialist Appeal - Billions of unpaid corporate tax

Billions of unpaid corporate tax

By Socialist Appeal
Tuesday, 29 April 2008
Bob Crow, General Secretary of the RMT, states that the privatised rail industry "is profiteering on £1.3bn in unpaid tax, and is using a deferred-tax loophole intended to encourage investment to fund massive increases in dividend payouts to shareholders. This tax is unlikely ever to be paid, and is effectively a hidden subsidy that dramatically increases profit levels."

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