Google isn’t paying its taxes. The multi-billion dollar corporation has been under scrutiny for using shell companies in Bermuda, Ireland and elsewhere to shelter at least $33 billion of revenue. It’s the same old story of a corporation avoiding taxes to maximize short-term profits and CEO pay-outs, while ordinary people are left to foot the bill for critical services -- our children’s schools, fire and police services, teachers, roads and hospitals -- which directly benefit the company. This week Google’s shareholders are proposing a comprehensive tax policy at the shareholder meeting. If enough of us support them we could get Google to pay the $2 billion it owes in taxes around the world and ensure it complies with national laws that benefit Google’s customers, employees, suppliers and society as a whole. Google is one of the most notorious multinational corporations exploiting cross-border tax loopholes across the world: In the UK, Google only paid £11.6 million despite making a £5.5 billion profit, channeling its profits through Ireland to Bermuda where no taxes are levied. In the US, Google has been investigated by US Senator Carl Levin for deferring taxes on over $24 billion of revenue. In Italy, the company is being audited by the Tax Police for its tax avoidance strategies -- even its offices have been searched. In France, Googles tax avoidance prompted the government to institute policies to prevent tax evasion by internet giants like Google. Across the globe, cash-strapped governments are imposing austerity. Governments are cutting essential public services and corporate tax avoidance means ordinary people have to pay the price for massive profits being funnelled away into tax havens. What is more, tax avoidance severely exacerbates growing inequality around the world. action.sumofus.org/a/google-taxes/?akid=5102.1919252.8A_0DN&rd=1&sub=fwd&t=
Posted on: Thu, 01 May 2014 18:53:35 +0000
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