Newspaper accidentally calls for crackdown on itself
Today’s front page decries the social media giant’s ‘insult to taxpayers’, after reports Facebook paid a mere £4,327 in corporation tax in 2014.
Facebook paid staff huge bonuses of up to £210,000 each, allowing it to claim an accounting loss and pay less tax.
The company also channels its money through tax havens. As the Mail reports:
“Facebook is understood to funnel British profits through its international headquarters in Ireland to another organisation registered in the Channel Islands, a notorious tax haven.”
The rotters! The Mail adds:
“The revelation is an embarrassment to ministers, including George Osborne, who pledged to crack down on tax-dodging global firms.”
But will the story cause embarrassment to Daily Mail proprietor Jonathan Harmsworth, 4th Viscout Rothermere, who has long engaged in his own elaborate tax-dodging?
Rothermere inherited his father’s non-domicile status, which Private Eye reports he has used to channel hundreds of millions of pounds in dividends from the Daily Mail and General Trust (DMGT) through a company called Rothermere Continuation Ltd, registered in Bermuda, then back into a trust fund for himself and his family.
Will the chancellor include the DMGT in his ‘crackdown on tax-dodging global firms’?
As the Mail’s editorial ‘Status: tax dodger’ huffs:
“No wonder some are drawn to Jeremy Corbyn’s infantile Marxism. The sooner Mr Osborne’s crackdown takes effect, the better for the good name of capitalism.”
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Adam Barnett is a staff writer at Left Foot Forward. Follow MediaWatch on Twitter
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