I question the ethical stance of a company that does it best to avoid paying it's fair share. I don't believe Vodafone should pay too much tax, but Vodafone must accept corporate responsibility for the welfare of their staff and communities within the countries in which they trade; and that means that they must pay fairly.
In a previous blog entry (about their last 6bn avoidance figure) still applies… "So, Newbury based Vodafone have yet again swindled us all out of cash. Swindled, because we as a country could have used that money for investment in services, debt payment, or even reducing the tax bill for the poorest. But no, the money goes to shareholders, a good deal of which won't even be in the country. Shame on you Vodafone." http://ow.ly/buNjK
With the reports that Vodafone payed no corporation tax in Britain last year, I can't help wondering why our tax system is designed to support the rich and the largest corporations (both of whom seem to pay little or no tax). By moving money to oversea's locations and transacting through countries with no tax/lax laws and no accounting standards, the super rich and large corporates get away with a lot. It's about time these groups paid fairly and in the spirit of honesty within the countries that they trade.
So why not have windfall tax on people, trusts and companies to ensure that they pay fairly and in the spirit of honesty within the countries that they trade?
Original article in the Telegraph here.