WPP CEO sir Martin Sorrell has waded into the corporation tax debate on large companies, claiming the amount businesses should pay is largely a “question of judgement”.
Sorrell (pictured) argued companies such as Google and Starbucks, which have come under mass criticism for their lack of corporation tax payments, will fork out for tax more out of a sense of social responsibility than because of legal liabilities, the BBC reports.
He added that “doing good is good business”.
The global advertising group has relocated its headquarters back to London from Dublin following a move to Ireland in 2008 to reduce possible tax charges.
Initially, the move to Ireland was in protest at the potential “double taxation” of corporate profits proposed by the Labour government. However, the coalition dropped those plans, prompting the advertising business to come back.
The Spring Budget 2017 saw Philip Hammond commit to lowering corporation tax - was it a missed opportunity to lower the rate sooner?
Vernon Dennis of Howard Kennedy LLP explores HMRC's approach to the tax gap, and the tax authority's relationship with financial directors
In the first article of a series exploring recent tax developments and the challenges they present to companies in the UK, Lydia Challen looks at the key tax issues affecting CFOs
Kevin Hindley of Alvarez & Marsal Taxand UK LLP examines how businesses should approach the publication of their tax strategy, and outlines the key challenges for company boards