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Tax Fraud Blotter: Severe and widespread

Tax Fraud Blotter: Severe and widespread
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Jorge Zuñiga Blanco Shares Expert Tips for Seamless Sales Tax Compliance in eCommerce

Jorge Zuñiga Blanco Shares Expert Tips for Seamless Sales Tax Compliance in eCommerce
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Tax Experts, How Much Is He Supposed To Receive At The End Of The Month? - Career

Tax Experts, How Much Is He Supposed To Receive At The End Of The Month? - Career
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There's a weird rumor about Congress's big new tax deal

Talking points circulating around Washington say it could let the White House send out checks right before the election. Experts say that isn’t true.

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Breakfast

more than £100 million in tax while overpaying its senior executives. that's according to experts, the tax policy associates, who say the post office paid less tax by deducting payments to victims of the horizon it scandal from its profits. they say this could be a possible breach of tax law. here's our business editor simonjack to explain. what they have been doing is deducting compensation due to victims of the scandal from their reported profits, thereby lowering — in some cases wiping out — their tax bill. now, tax experts have told us that may be a breach of tax law, that you are not normally allowed to deduct fines or compensation for unlawful acts from your profits, they're non—tax—deductible, and as a result the post office may owe over £100 million in unpaid tax. now, in effect the government willjust have to step in and support it as it has in the past. but there is another dimension to this, whereas they have included those payments out when it comes to reporting profits, they've stripped them out when it comes to executive pay and bonuses, ignoring those payments, which means they �*ve been boosting

Tax , Post-office , Payments , Victims , Executives , It-scandal , Profits , Tax-policy-associates , Experts , 100-million , 00-million , Breach

Breakfast

6:04am. we will focus on the post office. we have had the rise this week but other details are coming through. week but other details are coming throu~h. , , ., , ., ., week but other details are coming throu. h. , , ., , . ., . through. this story related to tax and how much — through. this story related to tax and how much tax _ through. this story related to tax and how much tax has _ through. this story related to tax and how much tax has been - through. this story related to tax i and how much tax has been paid. the post office may have underpaid more than £100 million in tax while overpaying its senior executives. that's according to experts the tax policy associates, who say the post office paid less tax by deducting payments to victims of the horizon it scandal from its profits. they say this could be a possible breach of tax law. here's our business editor simonjack to explain. what they have been doing is deducting compensation due to victims of the scandal from their reported profits, thereby lowering, in some cases wiping out, their tax bill. now, tax experts have told us that may be a breach of tax law, that may be a breach of tax law, that you are not normally allowed to deduct fines or compensation for unlawful acts from your profits, there are non— tax—deductible, as a

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BBC News

were deducted from the company's profit before it paid tax, but seem to have been ignored when setting bonuses for executives. tax experts are questioning whether the company could have underpaid its tax bill, while possibly overpaying top bosses. companies pay corporation tax on their profits — without a tax deduction for legitimate expenses. persecuting postmasters for 15 years and paying them compensation is not a legitimate expense. that means that their real tax bill is a lot higher. that means that bonuses paid to executives who are running a supposedly profitable business should be looked at again. it has stoked yet more anger and there are calls now for some of that money to be paid back. i think our big concern is that the public has basically been double—crossed. it looks on first blush as if the post office has been underpaying its taxes and overplaying its bosses, and frankly that's what we've got to get to the bottom of this week. the post office said its financial information was appropriate and accurate but its latest accounts

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BBC News

our business correspondent, marc ashdown, has more. more questions for the post office — this time over who benefited from the mistreatment of hundreds of sub—postmasters. it seems compensation payments made to victims of the horizon it scandal were deducted from the company's profit before it paid tax, but seem to have been ignored when setting bonuses for executives. tax experts are questioning whether the company could have underpaid its tax bill, while possibly overpaying top bosses. companies pay corporation tax on their profits. you're allowed a tax deduction for legitimate expenses. persecuting postmasters for 15 years and paying them compensation is not a legitimate expense. that means that their real tax bill is a lot higher. that means that bonuses paid to executives who are running a supposedly profitable business should be looked at again. it's stoked yet more anger — and there are calls now for some of that money to be paid back.

Post-office , Questions , Marc-ashdown , Hundreds , Sub-postmasters , Mistreatment , It-scandal , Tax , Executives , Company , Victims , Setting-bonuses