LurkerJ said:
Activision’s UK division faces HMRC investigation over diverted profitsStory by Matthew Field • 1st of May 2023 Adivision of US gaming giant Activision Blizzard, which last week accused Britain of being “closed for business”, is facing an investigation by the taxman that has already forced it to cough up tens of millions of pounds. A UK subsidiary of the Call of Duty developer disclosed in its most recent accounts that it had “settled tax liabilities” worth $31m (£25m) with HMRC and was facing further questions over diverted profits and “transfer pricing” arrangements. Activision’s UK mobile gaming company paid £25m in settlements in 2020, while discussions over further tax matters dating from 2016 to 2020 were ongoing as of the signing of its accounts in September last year. The business reported profits of $469m in the year ending December 2021, paying $11.7m in total taxes. According to Blizzard’s US filings, the company is engaged in a “collaborative multilateral process with tax authorities” in the UK and Sweden over its King division. In February this year, HMRC disclosed it was “currently carrying out around 100 reviews into multinationals with arrangements to divert profits… the total amount of tax under consideration in these cases was £2.4bn at the end of March 2022”. https://www.msn.com/en-gb/money/other/activisions-uk-division-faces-hmrc-investigation-over-diverted-profits/ar-AA1aAE8q Oh the so very concerned about the consumers. A shame the hilarity of MS/ABK statements is not being challenged, named or shamed as they should be. |
This clown fiesta keeps giving us the goods
