
LONDON, May 20 (UPI) -- An appeals court in Britain said Wednesday that Procter and Gamble's snack treat Pringles were, technically, potato chips and subject to sales tax.
The ruling has a potential to require the company to pay $155 million in back taxes and $31 million per year, but a Procter and Gamble spokesperson said prior arrangements with Her Majesty's Revenue and Customs meant there were no back taxes due, The Daily Telegraph reported.
Foods are rarely subject to sales tax in Britain, but potato chips happen to be singled out as an exception.
The court heard arguments on whether or not Pringles, made 42 percent from potato and 33 percent from fat and flour, contained enough "potatoness," to be considered a potato chip, or crisp.
The court decided there was "more than enough potato content for it to be a reasonable view that it is made from potato," the Telegraph said.
| Additional Business News Stories | |
WASHINGTON, Feb. 10 (UPI) --
The White House needs to come clean on bankrupt solar energy company Solyndra to ensure such "gross incompetence" won't happen again, a lawmaker said.
|
ISLAMABAD, Pakistan, Feb. 10 (UPI) --
The last three of 18 new and upgraded F-16 fighter jets from the United States arrived in Pakistan, a report by the Indo-Asian News Service said.
|
With rental vacancy rates at their lowest levels in 10 years, a review of TransUnion's proprietary rental screening database found that rental prices remained about the same between the fourth quarters of 2010 and 2011....
|
Government officials are on the verge of an agreement worth as much as $26 billion with five major banks, capping a yearlong push to settle federal and state probes of alleged foreclosure abuses by lenders.
|
| Stories | Photos | People | Comments |
View Caption