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July 29, 2019 08:11 pm

Grand Theft Auto Maker Has Paid No UK Corporation Tax in 10 Years

Rockstar North, the Edinburgh-based developer of Grand Theft Auto, has paid no corporation tax over the past 10 years, despite making billions in revenue for its parent company Take-Two Interactive, while claiming more than $52m in tax relief. From a report: A report from the investigative thinktank TaxWatch UK estimates Rockstar Games' operating profit at $5bn between 2013 and 2019, during which time the company released Grand Theft Auto V (GTA V) and Red Dead Redemption 2. Rockstar North is part of Rockstar Games. GTA V has sold more than 100m copies, making it one of the most profitable entertainment products of all time. It racked up $1.2bn in its first three days on sale in 2013. According to Take-Two earnings reports, GTA V's online component, GTA Online, has generated hundreds of millions in revenue. But the company paid no corporation tax between 2009 and 2018. It received $52m in tax credits from the government's video games tax relief scheme, which was set up in 2014 to bolster the UK's $6.1bn games industry, much of which is made up of small and medium-sized developers. The sum is equivalent to 19% of the total relief paid to the entire UK games industry since 2014, TaxWatch reports.

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