Just as Vodafone was picking up the pieces after allegations of tax avoidance, the mobile phone giant is now facing a fresh wave of scrutiny after claims it paid no corporation tax in Britain last year.
Vodafone earns several hundred millions of pounds from its 19 million UK customers. But while its global corporation tax bill went up by £300m to £2.3bn, its UK bill fell from £140m in the year to March 2011 to zero this year, the Sunday Times reported.
Vodafone said its UK capital investment rose to £575m from £516m in the year, offsetting the tax bill.
The company has already faced criticism over a £1.2bn settlement with HMRC after a decade-long dispute. The company uses a network of offshore companies, mainly in Luxembourg, to erase its tax liability. Whilst Vodafone says it has acted within the law in the UK, the Occupy protestors are likely to have found their next target...