The front page of City AM features comments from the IEA
If Vodafone chief executive Vittorio Colao were to sell its stake in the venture – which was founded in 2000 – he would be left with a levy equal to the rate of corporation tax on the capital gains Vodafone has made since starting VZW. Analysts have pegged the value of the stake at up to £100bn, which could result in a tax bill of around £20bn.
The Institute of Economic Affairs yesterday hit out at chancellor George Osborne’s tax policy, saying: “The problem of capital gains liability paradoxically makes takeovers more likely rather than less.”
Read the full article here.