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UK chancellor to announce 25% 'Google Tax' - report

Tuesday 17 March 2015 | 15:27 CET | News
UK chancellor George Osborne's budget speech of 18 March, is expected to include a 25 percent tax on large technology companies' profit from UK operations, as a response to internet groups directing much of their profit offshore through "creative" accounting, the Independent reports. This is one of several leaks the day before the announcement. The so-called "Google Tax" is higher than the standard corporate rate tax, 20 percent, and is expected to apply only to enterprises with over GBP 250 million of revenue. The Independent writes that it is still unclear how the tax might be enforced. The

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