Opus comments on fashion chain Gap’s UK tax arrangements
February 11, 2016
Business Risk Adviser, Nick Hood comments on the opaque tax affairs of US fashion chain, Gap in the Evening Standard and the Independent. The story was re-run by a number of other national media outlets, including the Daily Mail and the Mirror.
“It’s disappointing to find yet another multinational organising its financial and taxation affairs in such a complex and potentially opaque manner — especially when the result is the UK taxpayer will be substantially subsidising any future tax bill Gap might finally end up paying. This is all despite Gap’s UK retail sales income of well over £300 million a year.”