Vodex (vodex) wrote in murdoch_watch,
Vodex
vodex
murdoch_watch

FUN MURDOCH FACT #1



Now of course it's not quite the same thing, but FUN MURDOCH FACT #1:

http://news.bbc.co.uk/1/hi/business/the_company_file/299543.stm

Media tycoon Rupert Murdoch may run one of the most profitable businesses in the UK, but it appears that he has somehow managed to avoid running up a tax bill over the past 11 years.

According to The Economist, Mr Murdoch has saved at least £350m in tax - enough to pay for seven new hospitals, 50 secondary schools or 300 primary schools.

...

Overall, News Corporation paid just £146m ($238m) in corporate taxes on profits of more than £2bn.

In other words he is paying tax at a paltry rate of just 6%. That compares with normal company tax rates of 30% and upwards.


That's £350M in personal tax 'saved'. At an estimate, £500m of corporate tax. And that article's from 1999.

Just another form of state 'handouts' - but much bigger. But we're not likely to see that in two-inch-high red letters in every newsagent in the land, are we?
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