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Thu 3rd Mar 2011
Added on Mon 28th Feb 2011, 10:54am — last updated Thu 24th Mar 2011, 7:38pm
GMB PROTEST AT QIA OWNED HARRODS OVER TAX AVOIDANCE ON TAX-PAYER FUNDED RENTS SENT TO OFFSHORE TAX HAVENS
It’s about time QIA paid for their responsibilities for staff and residents at Southern Cross and stopped avoiding taxes on much of the £248.3 million they receive from the tax-payer in rent which ends up in off-shore tax havens
The Qatari Investment Authority (QIA), which owns Harrods, faces a further GMB demonstration over the total lack of action by the QIA on the sky high rents charged for care homes for the elderly owned by the QIA in Britain and the continuing tax avoidance on the income from these rents as the funds are channeled to off-shore tax havens.
Overcharging on rent amounts to £60 per week per care home bed. The public funds involved was intended to be used to pay for the care of the elderly in Southern Cross care homes. Instead these funds are being used to pay the interest on £1,100m bonds raised by the QIA when they bought the care home builidngs from a private equity company in 2006. Taxes on this income are avoided as the funds are funnelled via companies in the Isle of Man and the Caymen Islands.
Meeting Outside Harrods at 12pm