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EU Says Prepared to Probe UK Google Tax Price

Margrethe Vestager said so called sweetheart deals with the tax authorities were “unjust” and occasionally “prohibited”, as a thunderstorm continued to swirl in Britain over Google’s deal.

“We should be in a union where everybody has a fair chance,” Vestager told BBC radio.

Yet, “if we discover there’s something to be concerned about, if a person writes to us and says this is perhaps not as it ought to be, then we’ll take a look”, she said.

The market spokesman Stewart Hosie of the opposition Scottish National Party said they’d sent a letter calling for this type of probe.

Google defended itself saying it fulfilled with its tax law obligations.

Peter Barron, Google’s communications vice president, said the standard 20 percent corporation tax was paid by the firm on the gains generated by its own actions in Britain.

“Authorities make tax law, the tax authorities alone apply the law, and Google complies with the law.”

HMRC officials and Google executives are expected to be grilled by the public accounts examination committee of parliament on February 11, over the deal.

On Wednesday, an agreement was signed by more than 30 OECD nations to share info about multinationals in a drive to improve transparency and fight corporate tax avoidance.

‘Nominal sums for PR’: Murdoch
His Downing Street office on Thursday sought to play down reports that Rome and Paris had succeeded in procuring resolutions that were much more demanding with Google.

“My understanding is the fact that the French and Italians have said how much tax they’d like Google to pay. Let us see what’s in fact paid,” a Downing Street source said.

Nevertheless, one of Google’s largest investors in Britain encouraged the technology giant to pay “substantially more” tax in britain.

James Anderson’s Scottish Mortgage Investment Trust possesses GBP 120 million of shares in the parent company of Google, Alphabet.

“It’s in the long term interests of Google and others of that ilk to pay adequate rates of tax,” he told The Times newspaper.

“In return they’d get admiration.”

Meanwhile, international media baron Rupert Murdoch weighed in, saying on Twitter that Google was “paying nominal sums for PR (public relations) goals. Will not work. Want powerful new laws to pay such as the rest of us.”

by admin on January 30th, 2016 in Google

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