Offshore - and out of reach to the Revenue

'Tax Gap'

• GlaxoSmithKline

More than 40 GlaxoSmithKline trademarks went to a factory in Puerto Rico. Amongst them was the title for the blockbuster diabetes drug Avandia. These were shifted in to the firm's premises in Cork in 2007, when production was phased out at SB Pharmco Inc in Puerto Rico after quality control problems arose. Helen Jones, head of tax at GSK says: "It is a widespread and totally accepted practice for global companies to license out intellectual property in return for royalties which reflect the value of work carried out by the holder."

• AstraZeneca

Zomig and Crestor are two of AstraZeneca's drugs that have been placed in a tax haven in Puerto Rico. The trademark for Faslodex was assigned to IPR Pharmaceuticals Inc in the Caribbean territory, which is owned by AstraZeneca.

Facts and Figures

• 'GSK pays on average more than 80% of its tax to overseas countries rather than to Britain.'

• 'GSK's worldwide profits were £7.4bn, the company's actual UK tax bill was only £450m.'

• 'GSK said last year that there were "wide differences in positions" between the company and HM Revenue & Customs, which might lead to litigation. But in June, the disputes were suddenly resolved "with no material impact on the expected tax rate for the year".'

• 'It (AstraZeneca) made a settlement of up to $100m (£70m) with UK and US authorities in 2004, and it still faces "tax audits" around the world. It has put aside a precautionary $1.3bn in its accounts as a result.'

• 'The company (AstraZeneca) says it makes more than 70% of its profits overseas, and pays the necessary taxes abroad.'

• The US arm of AstraZeneca was named in 2004 as one of the 30 companies involved in a large avoidance scheme sold by the US arm of the international accountants KPMG.'