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Energy giant pays zero tax
#1
More on the two tier tax system - corporation and the wealthy pay little or no tax, the ordinary citizen pays it all.

Nothing to see here folks, move along...

Quote:

Energy giant pays zero tax


MPs blast Npower as 'the new Starbucks'






Tax confession ... Npower's Paul Massara
By EMILY ASHTON, Whitehall Correspondent
Published: 17th April 2013

ENERGY giant Npower has not paid a penny in corporation tax for three years while pushing household bills through the roof.
Chief executive Paul Massara made the shock confession to the Commons Energy Committee yesterday but insisted the move was legal.
Businesses can claim capital allowances for spending on plants and machinery which are deducted from corporation tax on profits.
Mr Massara claimed the firm had invested £5billion in Britain's power industry in the last five years much of it on renewable energy such as wind farms.
But Labour MP John Robertson dubbed Npower "the new Starbucks" after the US coffee giant rapped last year for paying no tax.
He urged customers to switch energy providers in protest.


Npower reported profits of £766million between 2009 and 2011 but paid ZERO corporation tax.
Figures for 2012 have not yet been published.
Three other Big Six firms E.ON, EDF and Scottish Power have paid "significantly less" corporation tax than expected, said Labour.
Npower customers will be furious because the company owned by German utility firm RWE hiked gas tariffs by 8.8 per cent and electricity by 9.1 per cent in November.
The rises pushed the average dual fuel bill up by £108 to £1,352 a year. The firm's profits surged by 25 per cent to £390million in 2012.
An Npower spokeswoman said: "This is in no way tax avoidance.
"All of our business is taxable in the UK."







The shadow is a moral problem that challenges the whole ego-personality, for no one can become conscious of the shadow without considerable moral effort. To become conscious of it involves recognizing the dark aspects of the personality as present and real. This act is the essential condition for any kind of self-knowledge.
Carl Jung - Aion (1951). CW 9, Part II: P.14
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