Good morning. Here is Friday's 9am Lowdown.
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'HMRC is digitally distracted'
ATT President Michael Steed has accused HMRC of being digitally distracted, following the NAO’s criticism of HMRC’s service.
Steed urged for a thorough review of HMRC’s resourcing. saying "an inadequately funded and inefficient operating tax system affects everyone". Blaming HMRC’s making tax digital distraction, Steed said HMRC has "evidently been paying far too little attention to the here and now”.
Steed added: “The under-funding of HMRC has inevitably taken its toll on HMRC staff. It is to their credit that the front-line staff continue to attempt to provide some form of service to a public that has become increasingly frustrated by ludicrously long phone waiting times and other major shortfalls in service as outlined in this welcome report.”
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French authorities investigate McDonald's tax affairs
French authorities searched McDonald's French headquarters on 18 May, suspecting the fast food company uses its Luxembourg European base to illegally lower its tax bill, reports The Independent.
According to L'Expansion magazine, French authorities sent McDonald's France a 300m euro bill for unpaid taxes.
Although McDonalds declined to comment, in a previous statement it emphasised how it complies with “all tax laws and rules in Europe and pays a significant amount of corporate income tax”.
This news emerges days after French investigators targeted Google’s tax affairs, raiding the software company’s French headquarters.
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Accountex video of the day
In the Accountex video of the day, MyWorkPapers founder Rich Neal talks to AccountingWEB’s business editor Tom Herbert about the future of audit.
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