UK MPs dismiss Google's tax deal
UK lawmakers say the internet tech giant Google's $183 million tax settlement seems disproportionately small given the size of the company's operations in Britain.
In a report, parliament’s Public Account Committee announced that it is not possible to say whether the deal was fair to taxpayers because of secrecy surrounding the negotiation between two sides.
The report came after the committee grilled the Head of the company's European operations, Matt Brittin in a meeting earlier this month.
The heated session tapped into public anger over multinational corporations that operate in Britain but have tax bases elsewhere. Britain is now revising its international tax rules.
The lawmakers say tax authorities should lead the way in pressing for international tax changes to "prevent aggressive avoidance," by multinational companies.
They also urged tax authorities to re-open the investigation if "relevant new evidence becomes available."
Now experts see the announcement as criticism of Conservative government’s claim that the settlement was a victory for taxpayers.
According to the MPs, Google’s claim for greater tax simplicity was at odds with its complex operational structure, which appears to be aimed at minimizing its tax liabilities.
Google admits this structure will not change as a result of this settlement.
According to the Guardian, the UK is Google’s second largest market after the US, contributing over US$7billion in revenue in 2015, or around 10% of Google’s worldwide revenue.
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