UK autumn statement 2014: Osborne to introduce ‘Google tax’

George Osborne has launched a crackdown on tax avoidance by multinational technology firms such as Google and Amazon, by imposing a 25% levy on profits which are generated in Britain but “artificially shifted” abroad.Dubbed “the Google tax”, the new levy was announced in the chancellor’s autumn statement alongside a move to punish banks for losses incurred during the global financial crisis. see:George Osborne’s Google tax doesn’t add up to a radical reform
Is the “Google tax” – or the new diverted profits tax – as big, robust and far-reaching as the chancellor made it sound?”Some of the largest companies in the world, including those in the tech sector, use elaborate structures to avoid paying taxes,” said George Osborne. “Today we’re putting a stop to it.”

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