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Who pays corporation taxes on sales? I thought that's what VAT was for. Isn't corporation tax based on profit? If the cost of goods sold and expenses were £795m
by chime 14y ago
Who pays corporation taxes on sales? I thought that's what VAT was for. Isn't corporation tax based on profit? If the cost of goods sold and expenses were £795m, then £1.2m on £5m in profit would seem pretty reasonable.
- tzs 14y agoAssuming their profit margin in the UK is comparable to their profit margin elsewhere, they would have had about £180m profit in the UK.
- petercooper 14y agoCorrect, but you may be assuming the BBC is writing for a financially literate audience. They are not. They want to perk up a non-story by conjoining two disconnected facts.