Interestingly, when these same groups released a report on the company’s tax avoidance last autumn, Alliance Boots did not seem to dispute the central allegation: that it had taken on billions of pounds in debt in 2007 as a part of a leveraged buyout and that it has reduced its taxable income by roughly 4 billion via liberal use of the debt interest deduction from 2007 onwards.
Given that it’s the simple truth why would they disagree?
Interest is a deductible business expense. That’s why it gets taxed when it lands in the hands of the recipients.
Why is this a problem for anyone?