Newspaper article The Daily Mercury (Mackay, Australia)

Google's Tax Deal in UK Fuels the Fight for Multinationals to Pay Fair Share

Newspaper article The Daily Mercury (Mackay, Australia)

Google's Tax Deal in UK Fuels the Fight for Multinationals to Pay Fair Share

Article excerpt

BRITISH Chancellor of the Exchequer George Osborne has been left isolated over his claim that a $265million tax deal with Google is a "major success".

London Mayor Boris Johnson has joined widespread criticism of the "derisory" tax sums paid by Google and other tech giants, and the House of Commons Treasury Committee is promising an inquiry into UK tax policy and corporate taxes.

Treasury minister David Gauke told the House of Commons he could not comment on whether Google had broken any laws and insisted the UK did not agree to any "special deals with any taxpayer".

However, shadow chancellor John McDonnell told MPs that independent experts had suggested the effective rate of tax faced by Google was about 3% despite estimated profits of $2billion in 2014 alone.

MPs have already pledged to grill Google and HMRC over the deal -- which covers money owed since 2005 and is the result of a six-year inquiry by Her Majesty's Revenue and Customs.

Public Accounts Committee chair Meg Hillier described it as a "small amount of money" for Google. …

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