9am Lowdown: Tesco, EU, PwC and IHT

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Good morning, everyone and welcome to Friday’s Lowdown.

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Tesco accountants 'falsified documents' to hide £250 million black hole, court hears (Business Insider)

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The European Commission has today launched plans for the biggest reform of EU VAT rules in a quarter of a century.  (EU News)

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PwC posted record revenues of $38bn in the latest financial year on the back of growth in its advisory and audit divisions, although the firm narrowly failed to regain the title of the world’s largest accountancy from Deloitte. (FT)

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Nearly half of over 50s (48%) described their understanding of inheritance tax (IHT) as “not very good” or “terrible”. (Moneywise)

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Here’s how South Africa became synonymous with the term ‘state capture’. (FT)

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About Francois Badenhorst

I'm AccountingWEB's business editor. Feel free to get in touch with comments, tips, scoops or irreverent banter. 

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