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Displaying items by tag: Corporate Taxes


Correction 8-09-2012 Google has contacted us wityh ammedned figures on their earnings. We have adjusted the article to reflect the correct numbers.

Last year Google's UK subsidiary made a pofit of £3.95bn ($6.182 Billion USD)  £395 Million for which they have to pay only £6m ($9.4 Million USD) in taxes. If you recalculate that to a tax rate it works out to only around 0.15%, or £1.519  1.5% or £15.19 for every million pounds in turnover (about $23 USD). It is certain that this tally will fire up critisism over how much the search giant contributes to the UK's coffers. According to figures in The Telegraph, in the six years up to 2010 Google handed over only £8m in total. However, the 2011 payment is a jump in corporate tax for the company which might have been triggered by the ongoing monetary crysis. Last year Google had to pay £935,000, against £2.39bn £239m of revenue.

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