Global Radio responds to tax-dodging report
Global Radio has defended its tax arrangements, after the Sunday Times reported that the company has paid no corporation tax in the past five years.
When Global Radio was founded in 2007, it borrowed £233m from its owner Global Radio Group and another £252m from a "connected party".
Repayments on these loans mean that, although the company has reported operating profits, it has made a pre-tax loss. Companies that are loss making do not pay corporation tax.
A spokesman for ...
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