Google Executive Chairman Eric Schmidt defended the company’s tax practices in the United Kingdom, where Google and a handful of other U.S. tech companies have been chastised for not paying enough taxes. Google paid just over $9 million in UK taxes in 2011, despite hundreds of millions in turnover. The company was able to pull this off by operating out of Ireland, which has a much lower tax rate than the UK. Schmidt struck a familiar note in the UK tax debate, reiterating that Google’s tax arrangements are in full compliance with the law.
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Schmidt on Google's UK Taxes: This Is How It's Done
Posted by: David Vranicar April 22, 2013 09:35 AMGoogle Executive Chairman Eric Schmidt defended the company’s tax practices in the United Kingdom, where Google and a handful of other U.S. tech companies have been chastised for not paying enough taxes. Google paid just over $9 million in UK taxes in 2011, despite hundreds of millions in turnover. The company was able to pull this off by operating out of Ireland, which has a much lower tax rate than the UK. Schmidt struck a familiar note in the UK tax debate, reiterating that Google’s tax arrangements are in full compliance with the law.