UK: Google pays back tax millions but critics lash out
- 8 years ago
Internet giant Google has agreed to pay a decade’s worth of back taxes in Britain, amid claims that it and other multinationals have been avoiding contributing their fair share.
Critics however say the payment of 130 million pounds – that is over 170 million euros – is a drop in the ocean given the firm’s turnover.
Google says it had also agreed a basis on which tax in the future will be calculated.
“The way multinational companies are taxed has been debated for many years and the international tax system is changing as a result. This settlement reflects that shift,” a Google spokesman said in a statement.
British Finance Minister George Osborne welcomed the deal, saying on Twitter that it reflected new rules that he had introduced.
#Google tax bill is a victory for the action we’ve taken.I introduced Diverted Profits Tax.We now expect to see other firms pay their share— George Osborne (@George_Osborne) 23 Janvier 2016
Good to see #Google paying more tax on past profits.
Critics however say the payment of 130 million pounds – that is over 170 million euros – is a drop in the ocean given the firm’s turnover.
Google says it had also agreed a basis on which tax in the future will be calculated.
“The way multinational companies are taxed has been debated for many years and the international tax system is changing as a result. This settlement reflects that shift,” a Google spokesman said in a statement.
British Finance Minister George Osborne welcomed the deal, saying on Twitter that it reflected new rules that he had introduced.
#Google tax bill is a victory for the action we’ve taken.I introduced Diverted Profits Tax.We now expect to see other firms pay their share— George Osborne (@George_Osborne) 23 Janvier 2016
Good to see #Google paying more tax on past profits.