Tax Shopping: exploring Zara’s tax avoidance business

Posted on 08. Dec, 2016 by in Featured, Politics & Campaigns

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zara_coat-222x300Molly Scott Cato MEP writes: The parent company of fashion giant, Zara, is the latest corporation to be exposed for avoiding corporate tax. The company had a net income of almost €3bn in 2015 and has one of the highest net profit margins in the sector: 13.8% in 2015. But new research shows the company saved at least €585 million in taxes between 2011-2014, by using aggressive corporate tax avoidance techniques, mainly in the Netherlands, Ireland and Switzerland. The report by the Greens into the latest corporate tax dodge is launched today by the Greens in Europe at a special press conference.See more at: http://mollymep.org.uk/2016/12/08/zara-exposed-for-tax-shopping/

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