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Anorak | Google tax is not cheating tax on revenue

Google tax is not cheating tax on revenue

by | 1st, April 2017

Most of us view the web via Google. The company makes huge amounts of money for showing adverts to internet users. But should it pay more tax? The  Daily Mail says Google paid “just” £36.4million in UK corporation tax last year. This sounds like a lot of money. But the Mail’s says it’s not a lot when you see the figure in light of Google’s “£1billion in revenues” i.e. turnover.

A politician is outraged. Liberal Democrat Treasury spokesman Susan Kramer thunders: “It is appalling that Google are still getting away with paying such a paltry amount of their total revenue back in taxes.”

Er, no. Revenues are not the same thing as profits. You’d think a leading politician would now that.

The Government

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Posted: 1st, April 2017 | In: Money, News, Politicians Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink