Tobacco firm BAT ‘costs developing countries $700m in tax’

Campaigners say company uses ‘financial manoeuvring’ to shift profits to tax havens

British American Tobacco has been accused of depriving developing countries of hundreds of millions of dollars in tax by using “financial manoeuvring” to shift profits to a UK subsidiary.

The Tax Justice Network estimated that London-based BAT, the world’s largest tobacco company, would avoid paying $700m (£540m) between now and 2030 in Bangladesh, Indonesia, Kenya, Guyana, Brazil, and Trinidad and Tobago.

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from World news | The Guardian http://bit.ly/2VGZTOZ