News International

EDM number 160 in 1995-96, proposed by Harry Cohen on 05/12/1995.

That this House is dismayed at reports that News International have apparently paid only ú11.74 million in tax in the last 10 years despite making recorded pre-tax profits of ú979.4 million over that period; notes that this represents a rate of 1.2 per cent., when corporation tax is set at 33 per cent. in the United Kingdom and most companies, including News International's national newspapercompetitors pay over 20 per cent.; considers that News International have abused tax avoidance arrangements by amongst other complex transactions using letter-box companies in off-shore tax havens; and calls upon the Chancellor and the courts to close these loopholes.

This motion has been signed by a total of 17 MPs.