- Rupert Murdoch's News Corporation has avoided paying any corporation tax in Britain over the past 11 years, according to an investigation by The Economist magazine.
The magazine caims that the corporation tax bill of News Corporation, the parent company of Murdoch's news and TV empire, has, since 1988, amounted to nil once rebates were taken into account.
Since 1988, Newscorp has made £1.387 billion in profits and although it has paid some tax in the UK, the rebates it has received has resulted in the payments cancelling each other out.
The company has, however, paid £127 million in corporation taxes worldwide over the four years to June 1988, with consolidated pre-tax profits of £2 billion, an effective tax rate of only 6 per cent. Disney, another vast media company, paid 31 per cent tax over the same period.