Google has allegedly been using strategic accounting methods to skip out on taxes in the UK. Bloomberg Business reports Google's parent company, Alphabet Inc., will pay £130 million, or roughly $185 million USD in back-taxes to the country.
Making over $18 billion in revenue from 2006 to 2011, the tech giant paid just $16 million in "UK corporation tax." Along with the settlement, Google will change its approach to UK taxes, now paying tax on "revenue from UK-based advertisers, which reflects the size and scope" of its business in the UK, according to a statement made by the company.
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Making over $18 billion in revenue from 2006 to 2011, the tech giant paid just $16 million in "UK corporation tax." Along with the settlement, Google will change its approach to UK taxes, now paying tax on "revenue from UK-based advertisers, which reflects the size and scope" of its business in the UK, according to a statement made by the company.
Continue reading…
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