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Strategies & Market Trends : Anthony@Pacific & TRUTHSEEKER Expose Crims & Scammers!!!
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From: StockDung2/27/2008 7:36:01 PM
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TESCO in Cayman Islands Tax Fraud
02/27/2008 11:22 AM

A six month investigation by the British newspaper The Guardian has uncovered an elaborate corporate structure used by supermarket giant Tesco to avoid paying over £1bn tax on profits into the British treasury.

The Guardian investigation has brought to light a string of Cayman Island companies used to launder Tesco profits and shows that nearly a third of the countries 700 largest businesses paid zero corporation tax.

Tesco has refused to hand over information on new partnership companies saying "We are not prepared to supply you with commercially confidential documents such as the partnership agreements and other information."

Source: www.guardian.co.uk
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