UK chancellor announces planned "Google Tax"

Thursday 4 December 2014 | 11:27 CET | News
UK chancellor George Osborne declared in his Autumn Statement that he was "introducing a 25 percent tax on profits generated by multinationals from economic activity here in the UK which they can then artificially shift out of the country. This new Diverted Profits Tax will raise GBP 1 billion over the next five years," reports the BBC. Colloquially called the "Google Tax", the measure would affect many companies, including Apple, Amazon and Starbucks, that have been criticised for shifting profit made in the UK to low-tax havens. The director general of the Confederation of British Industry,

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Categories: General
Companies: Amazon / Apple / Google
Countries: United Kingdom
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