Pharmacy tax claims

October 16, 2013

A UK charity has accused British pharmacy giant Alliance Boots of avoiding more than £1.1 billion (A$1.8b) in tax since 2008. The claims relate to alleged “corporate profit shifting” which occurred after the company was privatised in 2007. A report from anti-poverty group War on Want and British trade union Unite says that after being delisted from the London Stock Exchange the new owners loaded up the firm with loans from affiliated companies in low-tax jurisdictions. This in turn saw the company’s former profits turn into tax losses, the report claims. Alliance Boots, which is 45% owed by US pharmacy group Walgreens, denied any wrongdoing, saying it organises its tax affairs “strictly in compliance with all applicable law”.

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Pharmacy Daily | Pharmacy tax claims

Pharmacy tax claims

Other recent headlines

Vax coverage decline continues

PSA launches guide for people with autism

Fair Work rules to abolish junior adult pay rates

SEARCH PHARMACY DAILY

Featured video

Recent issues

INDUSTRY JOB VACANCIES