May 22, 2017
BT faces potential £232m tax bill in Brazil
BT is facing a potential £232m tax bill in Brazil, in what could prove to be another setback for its Global Services division. The telecoms company disclosed in the footnotes of its full-year results that it is contesting 35 court cases brought by local states over unpaid tax in the country related to its international business. The state governments argue that the company should have paid tax on activities such as equipment rental and technology services. BT entered the Brazilian market in 2007 when it bought local company Comsat for about £50m as part of a £1bn acquisition spree to expand its international footprint. The company did not disclose whether Brazil was covered by that review.
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