Royal Mail Lost Money Under State Ownership: Report
Royal Mail lost money for several years under state ownership. According to a report, its new private owners could enjoy paying no corporation tax for a decade.
About £2.8bn of tax losses were collected by the organization. The amount can be used to balance its future bills related to taxes, adding fuel as enemy of its flotation, which is due on Friday.
Opponents including Shadow Business Secretary, Chuka Umunna, have also pointed out apparently low evaluation of three large properties in the list so as to declare that the government is selling off the service "on the cheap".
Still, it is execrated that the shares will be priced at the top end of the indicative range. Vodafone deal covers big decline in M&A. The number of merger and acquisition deals in Britain decreased by 6% during the third quarter. This suggested that the market remains monotonous despite an increase from Vodafone's mammoth Verizon deal.
According to a report by Experian, during the three months to the end of September, 1,043 mergers or acquisitions took place in the UK.
Royal Mail said it would stick to the tax rules of all the countries in which it operates. However, tax experts said that based on its latest financial record, the £2.8bn losses means paying no corporation tax for five to 10 years.
New Zealand News
- Porsche reportedly developing electric version of 718 sports car
- Tesla Model Y Performance becomes little bit more expensive to order in China
- Porsche’s recently unveiled Mission R Concept previews electric race cars of future
- Chinese manufacturer GAC’s Aion V e-SUV can charge 0-80% in just 8 minutes
- Oshidori International exits Japanese casino race, citing serious ethical irregularities
- Plug-in cars’ share grows to 32% in Netherlands in September 2021
- Italian motorcycle racer Valentino Rossi enters e-bike business with VR46 MTB range
- Micro Mobility shows off production version of Microlino 2.0 and 3-wheeled e-scooter
- Chinese electric motorcycle maker Evoke Motorcycles to set up shops in Spain