Wednesday, July 24, 2024

Google (Again) At Center Of Tax Avoidance Accusations

Although it’s hard to predict the split between thank you notes and hate mail, Google’s accountants may be receiving a lot of letters over the next few days.  It looks like Google managed to avoid paying about $725 million in taxes in the UK last year.

Back in April, The Sunday Times determined that Google saved itself $160 million in 2007 thanks to its practice of channeling revenues through Ireland instead of Britain.  More than a few people protested the shuffle, arguing that Google wasn’t playing fair.

Now, the objections have gotten more strenuous.  Vince Cable, the deputy leader of the Liberal Democrats, told Robert Watts, “Avoidance like this is hard to stomach at the best of times.  But when the country is in recession and everyone is feeling the pain, it really sticks in the throat – it means higher taxes for the rest of us.”

Cable then continued, “Google’s reputation will be severely damaged if it continues to behave in this way.  It is ducking its social responsibility.”

Google’s shareholders are sure to appreciate these maneuvers, however, and everyone agrees that the company’s actions aren’t in any way illegal.

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