Exclusive: major supplier to brands including KFC and Nando’s used offshore companies allowing them to reduce UK tax payments, investigation suggests
The global megacompanies supplying some of Britain’s most popular meat brands, including KFC, Nando’s chicken and Sainsbury’s organic range, appear to have been using offshore companies allowing them to avoiding paying millions of pounds in tax in the UK.
An investigation by the Guardian and Lighthouse Reports has found that two companies – Anglo Beef Processors UK and Pilgrim’s Pride Corporation (owned by Brazilian beef giant JBS) – appear to have reduced their tax bill by structuring their companies and loans in a way that allows them to take advantage of different tax systems, in what one expert has described as “aggressive tax avoidance”.
Continue reading...from The Guardian https://ift.tt/fQMF29D
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