The Bureau of Investigative Journalism and British Magazine Private Eye have collaborated on this undercover video that the branch manager of Vodafone’s Swiss branch admitting that the branch is actually a huge tax scam.
Vodafone, a telecommunications company that owns 45% of Verizon Wireless, claims that the company is fully transparent and the office does not play a role in its finances.
One of Vodafone’s companies with profits of £1.6 billion was taxed less than 1% in 2011, Political Scrapbook reports — the video suggests that this tax rate was achieved by running a mock office in Switzerland. Vodafone has been widely criticised for only paying £1.25 billion ($1.96 billion) tax in a in 2010, when it was widely believed that they owed £6 billion ($9.44 billion).
Supermarket chain and chemists Boots were also targeted in the video. Both have denied the accusations.
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