Google Corporate ▪ October 8
Google Corporate ▪ October 7
Lobbying group Citizens for Tax Justice has called out Google, Apple and Microsoft and others for what it described as “accounting tricks” in which companies “pretend” to be based overseas for tax purposes. The claims were made in a report entitled Offshore Shell Games 2015.
Many multinational corporations use accounting tricks to pretend for tax purposes that a substantial portion of their profits are generated in offshore tax havens, countries with minimal or no taxes where a company’s presence may be as little as a mailbox. Multinational corporations’ use of tax havens allows them to avoid an estimated $90 billion in federal income taxes each year.
Google’s overseas tax arrangements came under fire in the UK back in 2013 when it was revealed that the company paid just £6M ($9.4M) on a UK turnover of £395M ($620M), claiming that all its advertising sales were made by staff in Ireland (a claim later challenged) …
Google Corporate ▪ October 6
According to recent reports from both Re/code and The Wall Street Journal, Google is in the later stages of talks to invest in Symphony, a startup building a secure messaging platform. While the exact terms of the investment, including its value, have not been determined, WSJ’s report said that the deal will value Symphony at $650 million… expand full story
Google Corporate ▪ October 5