UK: Barclays admits it paid "just £113m in corporation tax in 2009", NGO says govt. cuts would be limited if banks paid "their fair share"

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Article
19 February 2011

Corporate tax avoidance: Impoverishing the public

Author: Guardian [UK]

Activists operating under the banner UK Uncut have taken to occupying stores whose owners and bosses have been avoiding tax. Today they move on to the organisation of a "bail-in" of Barclays branches, setting up schools, forests and libraries within the banks – an agitprop gesture to highlight the link between threatened services and the financiers that activists reckon could save them by paying their fair share...Barclays is an iconic case for making the point, seeing as bankers' determination to minimise their contribution to public funds is matched by the lavishness of the benefits they have enjoyed at public expense.

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Article
19 February 2011

[video] Barclays UK corporation tax bill for 2009 was £113m

Author: Joe Lynam, BBC News

Barclays chief executive Bob Diamond says..."I think the payment of tax is an important responsibility of businesses"...[Barclays statement] "We comply with taxation laws in the UK and in all the countries where we do business - both in the spirit and the letter"

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Article
18 February 2011

Barclays bank forced to admit it paid just £113m in corporation tax in 2009 [UK]

Author: Jill Treanor, Guardian [UK]

Barclays Bank has been forced to admit it paid just £113m in UK corporation tax in 2009 – a year when it rang up a record £11.6bn of profits...The current rate of corporation tax in the UK is 28%, although global banks such as Barclays – which has hundreds of overseas subsidiaries, including many in tax havens – do not generate all of their profits in their domestic market...Max Lawson, of the Robin Hood Tax Campaign, said: "This is proof that banks live in a parallel universe to the rest of us, paying billions in bonuses and unhampered by the inconvenience of paying tax...Barclays said it complied with tax laws in the UK and all the countries where it operates and that in 2010 it paid over £2.8bn in taxes in the UK and £6.1bn globally. The £2.8bn UK bill again includes payroll taxes. [also refers to Vodafone, Boots, Top Shop (part of Arcadia)]

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