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NPower, UK- based energy supplier, admitted that it hasn’t paid any corporation taxes in three years, even though the company earned GBP 766 million in profits, according to the Daily Mail.
The UK MPs questioned Paul Massara on Monday, the head of the energy company, which turned out to be at the top of the list of the six big energy companies not paying taxes.
Mr. Massara justified this by saying that it was completely acceptable because during the period at stake, namely from 2009 to 2011, the company had put the cost of building wind farms against its tax liability, writes the Daily Mail.
[mappress]
Offshore WIND Staff, April 17, 2013; Image: npower