• May 26, 2024

BAT Fined for Tax Avoidance

 BAT Fined for Tax Avoidance
Image: amazing studio

A Netherlands court ordered BAT to pay a fine of €107 million ($117 million), reports Reuters. The court said BAT under-declared profit by €1.8 billion during the period of 2013 to 2016 and will owe taxes from that period.

“By far the largest part of the fines were imposed for an intentionally untrue tax claim for the transfer of company activities to the United Kingdom,” the Dutch North Holland District Court said in a summary of its judgment.

BAT called the decision “disappointing” and said it was considering appeal.

“BAT complies with all applicable tax legislation across all of our operating markets,” BAT said.

In April, BAT agreed to pay $635 million to U.S. authorities. A subsidiary pled guilty to charges that it conspired to violate U.S. sanctions by selling tobacco products to North Korea and commit bank fraud in 2013–2017.