In one agreement with Vodafone, a potential tax bill of up to seven billion pounds was waived.

Idiots! Vodafone paid tax of £1,250m to settle the case. The idea that a potential tax bill of seven billion pounds was waived is, as they say, a lie.

You'd think a major news source would be able to get this sort of stuff right. It really does matter.

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Filed under: Taxation with tags channel 4, controlled foreign companies, idiots, vodafone