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Vodafone in new $1.5 bn UK tax 'scandal'

"This is yet another tax scandal," said Member of Parliament Margaret Hodge, chair of the parliamentary Public Accounts Committee, which scrutinises public expenditure and revenue-raising.

Italian Prime Minister Mario Monti
Italian Prime Minister Mario Monti
Vodafone Group, the world's largest mobile phone company, has managed to save 1 billion pounds ($1.5 billion) in taxes its UK operating unit might have paid in the past decade, thanks to accounting factors not seen at other European units.
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