Musk scorned “shady” loopholes, yet offshore tax tricks likely saved Tesla hundreds of millions When Tesla released its annual report for U.S. regulators in January, the Texas-based automaker, led by the world’s richest man, reported a federal tax bill of zero dollars for 2025.

Brilliant @reuters.com investigation reveals that $18bn of profit-shifting to the Netherlands and Singapore reduced Tesla's tax obligations by c. US$400m. www.reuters.com/legal/transa...

And do you know where they would not dare to avoid tax? China! Their very latest Annual Report in the US (10K) shows that they paid US$751m corporate income tax in China in 2025

Musk scorned “shady” loopholes, yet offshore tax tricks likely saved Tesla hundreds of millions When Tesla released its annual report for U.S. regulators in January, the Texas-based automaker, led by the world’s richest man, reported a federal tax bill of zero dollars for 2025.

Brilliant @reuters.com investigation reveals that $18bn of profit-shifting to the Netherlands and Singapore reduced Tesla's tax obligations by c. US$400m. www.reuters.com/legal/transa...

Banned Burton fire alarm fitter did not pay £327k tax bill Director of two fire alarm companies paid himself £387,195 owing £327,630 HMRC bill

Another absolute joke of a punishment - banned from being a company director for a handful of years. Practically an encouragement to evade taxes. Ridiculously weak penalties is a major reason why small business phoenixing is rife in the UK. www.accountancydaily.co/banned-burto...

Over last 15yrs Starbucks Coffee Company (UK) has booked £6.2bn income in the UK, paid £442m to other parts of the group in "royalties" and paid just £38m in corporation tax (& £20m of that was "donation" after they were lambasted in 2012 as the tax dodging poster boy of the UK)?!

Starbucks’s retail arm gets £13.7m tax credit even as sales increase Credit can be used to offset future bills as full-year losses at UK division widen to £41.3m and it adds 92 stores

Groundhog day in the UK.
Record revenue at Starbucks retail arm wiped out by intergroup royalty payments. End result: losses posted and £13.7m tax credit banked.
www.theguardian.com/business/202...

Starbucks’s retail arm gets £13.7m tax credit even as sales increase Credit can be used to offset future bills as full-year losses at UK division widen to £41.3m and it adds 92 stores

Groundhog day in the UK.
Record revenue at Starbucks retail arm wiped out by intergroup royalty payments. End result: losses posted and £13.7m tax credit banked.
www.theguardian.com/business/202...

Apple's big subsidiary in Ireland paid $22.8bn in corporate income tax last year. The bulk of this was down to the EU forcing Apple to pay $14.8bn of long overdue tax to Ireland - and forcing Ireland to receive it! But can also see that picking up hefty $1.4bn in global minimum tax surcharge.

The Merlin bird sound app is so,so good. Sample of what it caught this morning while I was waiting for my tram in Rochdale

Take Caterpillar as an example. Their 10k newly shows a $150m benefit from use of Switzerland. But their pCbCR filings in Romania show $272m profit booked in BVI, and zero tax paid. And the revenue going through Luxembourg and the $5.5bn of accumulated earnings look questionable.

Companies’ Big Use of ‘Tax Havens’ to Be Hit With New Obstacles As new details emerge of how major US companies like Merck & Co., AbbVie Inc., and Caterpillar Inc. book profits in offshore “tax havens” to cut their taxes, recent transparency requirements and inter...

We said that there would be a tax data explosion in 2026! Great chat with Bloomberg Tax on how new tax disclosure requirements are throwing up a treasure trove of new intel for investors, who are now much better able to discern high-risk aggressive tax conduct news.bloombergtax.com/daily-tax-re...

Palantir are doing an Amazon. Winning massive contracts in the UK, booking loses in the UK, paying no corporate income tax in the UK. Local businesses unable to compete. They establish a monoply that very difficult to reverse out. www.theguardian.com/technology/2...

The UK still has one still (Energy Profits Levy), but due to flip in 2030 to an Oil & Gas Price Mechanism tax rate of 35% when barrel of oil tops c.$95 a barrel. A permanent, predictable regime helps all, and other countries have, albeit $95 is high to my eyes

‘The sums don’t add up’: UK farmers struggle as Iran war drives up costs Prices of crucial farming inputs such as fuel and fertiliser skyrocketed just before the spring planting season

“About a third of the global seaborne trade in fertilisers passes through the strait of Hormuz”

Time to plant more peas, beans & other nitrogen-fixing legumes, and cut down on excess fertiliser applications - which are also killing rivers & wildflowers:

www.theguardian.com/business/202...

UK to Lose £700 Million Annually from Revised Minimum Tax Deal Exemptions for US multinationals from parts of the global minimum tax deal and additional tax reliefs under the framework will cost the UK government roughly £700 million ($932 million) a year, accord...

This is a crude back of a fag packet estimate, based on impact analysis released in the UK & Netherlands...

The exemptions for US multinationals to parts of the global minimum tax could reduce the amount raised globally by 25-30%, or c.$50bn pa :(

news.bloombergtax.com/daily-tax-re...

UK to Lose £700 Million Annually from Revised Minimum Tax Deal Exemptions for US multinationals from parts of the global minimum tax deal and additional tax reliefs under the framework will cost the UK government roughly £700 million ($932 million) a year, accord...

This is a crude back of a fag packet estimate, based on impact analysis released in the UK & Netherlands...

The exemptions for US multinationals to parts of the global minimum tax could reduce the amount raised globally by 25-30%, or c.$50bn pa :(

news.bloombergtax.com/daily-tax-re...

US pillar two side-by-side deal will cost UK £700m per year The Office for Budget Responsibility’s pessimistic pillar two forecast accompanied the UK chancellor’s muted Spring Statement, dubbed ‘as dull as possible’ by one adviser

The UK will take in 30% less global minimum tax due to the unfair exemptions granted to US multinationals in January. A £700m reduction on the £2.3bn that was previously estimated. First country-level estimate anywhere in the world I think. www.internationaltaxreview.com/article/2g23...

A taxing week: Pillar two will prosper despite US side-by-side arrangement The political optics of the US’s carve-out deal are poor, but as the Fair Tax Foundation’s Paul Monaghan writes, it preserves pillar two’s guiding ethos

The Trump Administration has done it's utmost to try and torpedo the Global Minimum Tax on MNCs. But it's still very much alive because it's still a bloody good idea, and mainstream business knows this. My Op Ed for ITR.
www.internationaltaxreview.com/article/2g15...

Moody’s alert cites gap in data centre accounting for Big Tech companies Accounting limitations mean tens of billions in liabilities may be concealed for leasing costs

Not surprised at all to see Meta singled out.

Aggressive financial accounting and aggressive tax dodging are nearly always seedy bedfellows.

Giving off Credit Sussie vibes. Investors beware.
www.ft.com/content/3ff9...

A taxing week: Pillar two will prosper despite US side-by-side arrangement The political optics of the US’s carve-out deal are poor, but as the Fair Tax Foundation’s Paul Monaghan writes, it preserves pillar two’s guiding ethos

The Trump Administration has done it's utmost to try and torpedo the Global Minimum Tax on MNCs. But it's still very much alive because it's still a bloody good idea, and mainstream business knows this. My Op Ed for ITR.
www.internationaltaxreview.com/article/2g15...

Moody’s alert cites gap in data centre accounting for Big Tech companies Accounting limitations mean tens of billions in liabilities may be concealed for leasing costs

Not surprised at all to see Meta singled out.

Aggressive financial accounting and aggressive tax dodging are nearly always seedy bedfellows.

Giving off Credit Sussie vibes. Investors beware.
www.ft.com/content/3ff9...

📩 Our latest newsletter is out and what a month it has been already!

Read news from @triodosuk.bsky.social, Fair Tax Week 2026, Good Business Week and more: mailchi.mp/fairtaxmark/...

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Fair Tax Week 2026: Save the dates - Fair Tax Foundation Fair Tax Week 2026 will take place 21-28 June and celebrate the many businesses that embrace corporate responsible tax conduct

The dates for Fair Tax Week 2026 and Tax Justice Sunday 2026 are out! Given all the doom and gloom out there, it’s more important than ever to recognise and celebrate the many, many businesses that embrace responsible tax conduct.
fairtaxmark.net/fair-tax-wee...

And their US financial statements (out this week) show that they paid zero corporate income tax in the UK last year. The UK is their No2 market, accounting for $427m of revenue. They also indicate that they are unlikely to be paying tax this year either

And zero in the UK, No2 market

Palantir also not paying any corporate income tax in the UK. The UK is their No2 market, accounting for $427m of revenue.

Palantir also not paying any corporate income tax in the UK. The UK is their No2 market, accounting for $427m of revenue.

A plastic social enterprise

This @rspb.bsky.social reserve is so good. On the Dee Estuary. Teaming with rareities. And there's an otter there right now

Tax experts slam ICC for “shameless” facts-for-hire report on UN tax proposal - Tax Justice Network The ICC's findings are meaningless at best – if not deliberate distortions to serve a lobbying agenda.

“It is disappointing to see such a flawed analysis being used to justify lobbying at the UN negotiations."
- @icrict.bsky.social's JoséAntonioOcampo

“The ICC’s report is a shameless attempt to muddy the debates at the UN." - @alexcobham.bsky.social

#UNtaxConvention
taxjustice.net/press/tax-ex...