Tesco goes Swiss: Another pyrrhic victory for the record industry

The tax loophole which allowed Tesco (and Amazon) to undercut the prices of mail-order CDs by sending them from Jersey has been closed, mainly thanks to the lobbying of record retailers in the UK. Jersey sealed the hole to "protect the island's image", apparently.

The result?

Tesco have simply relocated their Jersey business to Switzerland, and will carry on as usual.