G-20 ministers agree to tax tech giants
Tax technology giants to be taxed by the Group of 20 nations ... - Continue reading
Category: Alphabet Inc.
Apple Could Get a $4 Billion Boost From Tax-Law Quirk
Microsoft, Cisco might also benefit from GOP bill ‘loophole’ Law gives some firms edge in paring offshore cash tax tab Companies that stockpiled trillions of dollars offshore free of U.S. income tax may get one last break before paying up — provided their fiscal years don’t follow the calendar year…. – Continue reading
Google avoided billions in taxes by funneling money offshore
Alphabet Inc.’s Google managed to save $3.6 billion in 2015 by shifting its profits to a Bermuda shell company, according to filings in the Netherlands. Google used Ireland and the Netherlands as intermediaries. According to files obtained by Bloomberg, Google used the so-called “Double Irish” and a “Dutch Sandwich” tax… – Continue reading
Google, Facebook Targeted by Indonesia in Push for More Tax
Indonesia is widening its tax net to target global technology giants like Google and Facebook Inc., a strategy that’s raising red flags for fear it may deter foreign investment. Finance Minister Sri Mulyani Indrawati is seeking to squeeze more revenue out of an economy that’s been hit by weak commodity… – Continue reading
Moody’s Predicts Increase In US Firms’ Offshore Cash Piles
The level of cash holdings kept in foreign jurisdictions by US multinationals will continue to increase unless changes to domestic corporate tax rules are introduced, Moody’s Investors Services has said. According to a new report from the ratings agency, US non-financial companies rated by Moody’s will increase their cash holdings… – Continue reading
Italy Investigates Amazon for Alleged Tax Avoidance
Amazon’s Italy chief tells Bloomberg the company is cooperating with the authorities European Union member states continue their crackdown on American companies that they believe have avoided tax payments. Amazon.com, Inc. (NASDAQ:AMZN) is the latest company under investigation for its tax dealings in Italy, the company’s chief for Italy and… – Continue reading
Google Paid Just $3.1m EU Tax on $13 Billion Revenue: Report
Search giant Google – now a subsidy of Alphabet Inc. (NASDAQ:GOOG) – transferred around 11.7 billion euros ($13 billion) from its European operations to its accounts in Bermuda in 2014, in order to limit the tax burden on this income. This tax avoidance practice is often known as “Double Irish… – Continue reading
Google tells Parliament it won’t pay ‘Google Tax’ in U.K.
Google’s top global tax executive told U.K. lawmakers that a new U.K. tax provision dubbed “the Google Tax” will not actually apply to the U.S. technology giant. The law, officially the Diverted Profits Tax, was introduced last year amid concerns that Google parent Alphabet Inc. and other global tech companies… – Continue reading
Google overtakes Apple as world’s most valuable listed company
Revenue spike sees tech firm’s parent company, Alphabet, valued at $568bn – surpassing Apple’s valuation of $535bn Google has become the world’s most valuable listed company after announcing that its global revenues rose 13% to $75bn (£52bn) last year, and the group’s tax rate fell to just 17%. The group… – Continue reading
Google Strikes Deal With U.K. Tax Authority
DAVOS, Switzerland—Google said Friday that it has struck a deal with U.K. authorities that will settle a tax dispute and boost its corporate taxes in Britain, part of a broader effort by European governments to wring more out of big firms in the tech sector. As part of the settlement,… – Continue reading
Apple Inc. (AAPL), Alphabet Inc (GOOG) Agree on This Strategy
Data from the Organization for Economic Cooperation and Development shows that at 39%, the U.S. has the highest corporate tax rate among the 20 most developed economies. Yet, the average rate of taxation imposed on the 100 biggest S&P corporations was 28.4% in 2014. Apple and Alphabet paid even lower… – Continue reading
