AfterDawn: Tech news

Alphabet to pay UK 130 million in back taxes

Written by Andre Yoskowitz (Google+) @ 24 Jan 2016 16:47 User comments (1)

Alphabet to pay UK 130 million in back taxes Just like every corporation, ever, Google has been accused of skirting taxes in different countries but this time, the search giant has decided to pay some back.
Google parent Alphabet has settled in the UK and will pay 130 million in back taxes for the last decade.

From 2006 to 2011, Google made $18 billion in revenue in the UK but paid just $16 million in corporate taxes, using legal loopholes and subsidiaries to avoid higher tax rates.

Moving forward, the taxes paid will be more reflective of the company's actual revenue and profits. "We have agreed with HMRC a new approach for our U.K. taxes and will pay 130 million pounds, covering taxes since 2005," Google said. "We will now pay tax based on revenue from U.K.-based advertisers, which reflects the size and scope of our U.K. business."

Source:
Bloomberg

Previous Next  

1 user comment

129.1.2016 19:06

Props to Google for owning this!!!!!!!!

Accountability is in seriously short supply. None of us will EVER truly know what prompted or instigated this so as it stands, the credit goes to Google for doing the right f'ing thing!

Comments have been disabled for this article.

Latest news

Intel announces: First commercial 5G modem in development Intel announces: First commercial 5G modem in development (20 Nov 2017 16:46)
The world's second largest semiconductor manufacturer, Intel, has announced a major project in mobile chips. The company has introduced a future portfolio for commercial 5G modems. According ....
1 user comment
CCleaner becomes adware, here's how to avoid Avast ads CCleaner becomes adware, here's how to avoid Avast ads (20 Nov 2017 13:00)
One of the more popular Windows cleanup tools, CCleaner, has added Avast ads on to their software. After being acquired by Avast, CCleaner wants you to install the virus protection suite along ....
2 user comments
Tesla's power pack charges your phone like a Supercharger Tesla's power pack charges your phone like a Supercharger (18 Nov 2017 13:25)
Tesla announced yesterday two incredible products that are due in two or three years. However, you might not have the money, nor the interest, to buy either Tesla Semi or Roadster, but there ....
Apple's newest product misses the entire holiday season, hits the stores in early 2018 Apple's newest product misses the entire holiday season, hits the stores in early 2018 (18 Nov 2017 12:20)
Apple has decided to push back one of the products originally revealed nearly 6 months ago in WWDC. The smart speaker, dubbed HomePod, has been delayed further and won't be seen in stores this ....
1 user comment
Tesla unveils two new vehicles, electric semi and super-fast new Roadster Tesla unveils two new vehicles, electric semi and super-fast new Roadster (17 Nov 2017 10:53)
Tesla has today announced two new vehicle prototypes that will bring the total number of Tesla cars, and now trucks, to six. As expected Tesla unveiled their "beastly" semi-truck the first time ....
1 user comment

News archive