Setanta saves on Luxembourg unit

SETANTA Sports has saved at least €23 million in taxes by setting up a unit in Luxembourg, the Sunday Times reported, citing its own calculations.

More than one million British and Irish subscribers make payments to Luxembourg-based Setanta Sports Sarl, according to the report. The value-added tax rate in the country is 3%, compared with 17.5% in Britain and 21% in Ireland, the newspaper said.