Google to pay £130m as taxes to UK
Jan 23, London: Google will be paying £130m back to UK as taxes after a six year inquiry. According to critics, this payment has been labelled as
"derisory" and a "sweetheart deal" by critics on Saturday.
According to reports, the payment covers money owed since 2005 and follows a six-year inquiry by Her Majesty's Revenue and Customs.
George Osborne hailed it as "a victory" for the government, but Labour's John McDonnell said the sums were "trivial".
A report by BBC stated that the tax agreement comes after years of criticism of Google and other multinational firms over their tax arrangement in the UK and across Europe."These are taxes paid on profits when there was a Labour government," the chancellor said.
"Not a single penny was collected and now to have Labour politicians complaining about it is a bit rich."
"HMRC seems to have settled for a relatively small amount in comparison with the overall profits that are made by the company in this country. And some of the independent analysts have argued that it should be at least 10 times this amount," he said.
Google is not the only company to have been named for avoiding paying taxes on its British sales reports state that along with google other multi nationals like:Starbucks, Facebook.Amazon have all come under fire for not pay proper tax amounts.
The Oslo Times