Newspaper article The Evening Standard (London, England)

Vodafone 'Must Pay Fair Tax' on [Pounds Sterling]84bn Windfall

Newspaper article The Evening Standard (London, England)

Vodafone 'Must Pay Fair Tax' on [Pounds Sterling]84bn Windfall

Article excerpt

Byline: Joseph Watts Political Correspondent

VODAFONE was caught in a tax row today after a senior Labour MP said the firm should give the Treasury its "fair share" of an expected [pounds sterling]84 billion windfall.

Margaret Hodge said it was unjustifiable that Vodafone pay nothing to the Exchequer out of the massive profit due from the sale of the firm's stake in a US wireless company.

She urged the mobile phone giant to "do the right thing" even though it might not have to pay capital gains tax on the deal, the largest in recent history, due to a loophole in UK law.

Ms Hodge, chairwoman of the Commons Public Account Committee, said: "We must demand reassurance that HMRC has thoroughly examined this proposition to ensure British taxpayers get their rightful share of this massive profit. If there's a flaw in legislation it has to be urgently addressed by Treasury ministers. I don't understand how anyone can justify such a massive windfall without handing a fair share to the Exchequer. …

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