Monday, July 30, 2012
Olympics tax breaks
McDonald's and Coke won't take corporate tax breaks offered by the UK in connection with the Olympics, after an NGO campaign entitled "Stop the Olympic Tax Dodging." It's not strictly speaking "tax dodging" to take advantage of an exemption expressly granted by law, but this particular exemption has generated a lot of protest as a wholly unnecessary giveaway on the part of the UK. Indeed, it is an unnecessary and wasteful giveaway, as sponsorship in the Olympics (aka the World's Longest Commercial Break) is such a hot commodity.