United States

Diageo says HMRC to issue notices requiring additional tax

Wednesday, 10 May 2017 10:26am EDT 

May 10 (Reuters) - Diageo Plc ::Diageo - HM Revenue & Customs intends to issue preliminary notices of assessment under new diverted profits tax regime, which came into effect in April 2015.Diageo - Notices will require Diageo to pay additional tax and interest of approximately £107 million in aggregate for fy ended 30 june 2015 and 30 june 2016.Diageo does not believe that it falls within scope of new diverted profits tax regime.Will challenge assessments when they are received.Based on its current assessment, Diageo considers no provision is required in relation to diverted profits tax.Issue does not change Diageo's expectation that tax rate before exceptional items for year ending 30 june 2017 will be approximately 21%.. 

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-29.5 -1.13%
22 Jan 2018