Jul 12 2011

News International – time to look into its tax affairs

Posted by: Nick Shaxson in: Thoughts

Update: see News Corp Advisory, here.

A new tweet directed at me:

@monkchips James Governor
@nickshaxson surely a good time for a decent push on news international’s tax affairs?

I couldn’t agree more. I’ve been trying to persuade some journalists to have a go at this for some time. It would be good to update what The Economist discovered way back in 1999 – a six percent tax rate, as reported in Treasure Islands (and an earlier UK report found a 1.2 percent tax rate). Given what’s been happening in the UK – the latest story in the FT now quotes Gordon Brown as saying that the Murdoch empire employed ‘known criminals’ and broke into his bank account and legal files – this couldn’t come at a better time.

An update, anyone? Forensic tax investigation isn’t generally my core speciality – I spend my time looking at political economy and how the world works – but still, someone’s gotta do it . . .

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