'It's called capitalism': Google boss says he is 'proud' of the company's multi-million pound tax avoidance schemeThe search giant paid 6m in tax – despite making sales of 2.6bnCompany’s chairman Eric Schmidt said the company paid 'lots of taxes – in legally prescribed ways' By Peter Campbell and Amanda Williams PUBLISHED: 01:02 GMT, 13 December 2012 | UPDATED: 07:49 GMT, 13 December 2012 The boss of Google last night said he was ‘very proud’ of the elaborate structure that helped the search giant slash more than 200million from its UK tax bill last year. Taxpayers were left to fund the shortfall after Google contributed just 6million to government coffers – despite making sales of 2.6billion. MPs on the influential Public Accounts Committee last month slammed the group’s methods as ‘immoral’.
Taxpayer risks losing 1billion under Osborne plan to bribe workers into giving up their rights Employees urged to sacrifice rights in return for shares in their firmChancellor offered tax break on profits to encourage take upOffice for Budget Responsibility says it could cost 1billion by 2017-18Institute for Fiscal Studies condemns 'lollipop' at a time when ministers condemning other tax avoidance | UPDATED: 16:07 GMT, 11 December 2012 Giving workers shares in their companies in return for losing some employee rights could cost 1billion, it emerged today.
Google avoids tax on 10bn after doubling amount of money it puts into company in Bermudan tax havenThe internet giant reportedly moved nearly 80 per cent of its pre-tax profits to a shell company on the North Atlantic territoryThe move has seen the company slash its overall tax rate almost in halfGoogle's European Vice Chairman Matt Britten pays most tax where it creates 'economic value', mainly the U.SBut the company still moves some of the income generated by U.S created technology to foreign 'shelters' | UPDATED: 21:02 GMT, 10 December 2012 Internet giant Google avoided tax on 10billion revenue last year by doubling the amount of money put into a shell company in Bermuda.
Starbucks caves in to pressure and promises to hand the taxman 20m after public outcry The US-owned coffee chain has paid just 8.6 million in corporation tax in the past 14 yearsAfter public pressure, it will pay 20million to the Treasury over the next two years Campaigners are unhappy with the pledge, and are preparing to protest at cafes on Saturday There are hopes that Amazon and Google will be next to pay more tax | UPDATED: 07:50 GMT, 7 December 2012 Anger: Starbucks will pay 20million in corporation tax over the next two years after it was accused of acting 'immorally' for not paying the levy over the last three years Starbucks last night caved in to public pressure and agreed to pay millions in corporation tax amid fears of a growing consumer boycott. The global coffee group struck a deal with Her Majesty’s Revenue and Customs to pay 20million over the next two years, whether or not it reports a profit. The move will bring valuable money into Treasury coffers and piles pressure on other multi-nationals such as Google and Amazon to restructure their affairs to make contributions