Google to Pay Tax

Google has reached a settlement worth almost half-a-billion dollars with the Tax Office after a marathon decade-long dispute over its tax practices in Australia.

The settlement, which involves no admission of liability, will see it fork out $481.5 million to the tax office after an audit investigated its tax practices between 2008 and 2018.
Google has settled with the ATO.


The ATO has now netted $1.25 billion after also signing tax settlements with Microsoft, Apple and Facebook over the past two years under the Multinational Anti-Avoidance Law. Google's tax deal follows a $1.5 billion settlement with French tax authorities in September.

A Google spokeswoman said the settlement resolved a "longstanding dispute". "The settlement will also provide certainty in relation to future tax treatment," she said. The settlement was represented in the last consolidated financial results.

https://www.smh.com.au/politics/fede...18-p53l5l.html

Re: Google to Pay Tax

Not before time either! When is the UK going to take the same steps I wonder? These giant industries make plenty of profits out of all of us, we cannot usually pay less tax than we are obliged to so why should they be allowed to get away with it!

Re: Google to Pay Tax

If a business such as Amazon, everyone's favourite target, make a profit offshore from the UK why should they pay anything TO the UK? Same with places such as Costa and Starbucks?

They are franchises and the taxes that are due on their trade are paid by the franchisee in which the franchisee is operating in while the owner of the business that grants franchises is based offshore and taxes are paid in the country in which it is based.

It is perfectly legal and perfectly moral.

Re: Google to Pay Tax

Not quite correct!


Offshore tax havens benefit from the capital their countries draw into the economy. ... Individuals and corporations can potentially benefit from low or no taxes charged on income in foreign countries where loopholes, credits, or other special tax considerations may be allowed.8 Aug 2019

Re: Google to Pay Tax

On the contrary. Set up with care that can be and IS avoided. The principle intend of the changes was to make transfer of losses more difficult.

In any case by selling franchises the tax administration in which the franchise is established charges direct taxes on the performance of each franchise plus the taxes on the earnings of franchise employees, vat on consumables and of course the operating costs of running the franchise which then benefit the economy of the country in which the franchise operates.

Re: Google to Pay Tax

Small Countries cater very well as offshore Tax Havens.
Cayman Islands: A Stable British overseas territory.

Cayman Enterprise City in Cayman Islands offer:
I00% exemption from Capital Gains Tax and Income Tax
I00% exemption from Corporation Tax and Sales Tax
No Government Tax reporting or Filing required.

And there are many Secret Offshore Accounts available too.
You would be surprised which Companies and famous people invest in them.

The more money you have, the moore you will get.

Re: Google to Pay Tax

No need to schlep as far as the Cayman Islands. Just a few miles from Lancashire is the corrupt little cess pit - the Isle of Man.

The naive invested may need to use one of the UK banks with an offshore registered satellite over there as an intermediary- or do your shenanigans via one of the hundreds of "Brass Plate" companies over there, or even set one up yourself if you're talking a big enough enterprise and access tax havens directly - or just know the right people to set up a tax evasion thing on the place.

Re: Google to Pay Tax

I will on the Boat tomorrow.
It's warmer in the Cayman Islands.