Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
Story Views
Now:
Last hour:
Last 24 hours:
Total:

The Number 666 Bermuda Postbox That Funnels £30 BILLION of Google’s Profits

% of readers think this story is Fact. Add your two cents.


from Daily Mail:

Google admits funneling BILLIONS of pounds through Bermuda to avoid tax
Company has amassed £30billion in profits, with £3billion from the UK
Firm said to only have a post box numbered 666 on the island

Google funnels billions of pounds through Bermuda to avoid tax, a senior figure at the firm admitted yesterday. In a series of candid comments, Peter Barron also said the company set up its headquarters in Ireland because it had a low level of corporation tax.

And he did not deny the suggestion that the firm amasses its non-US profits in the British overseas territory of Bermuda in the Caribbean to avoid having to pay high rates of corporation tax in America.

Google’s parent company Alphabet is expected to announce today that it has amassed £30billion of profits from non-US sales in Bermuda. Around a tenth of this – £3billion – will be profits generated in the UK.

The intervention by Mr Barron, Google’s vice president for communications, comes after Chancellor George Osborne was attacked for hailing a UK tax settlement with the US technology firm as a ‘major success’ while critics dismissed it as ‘derisory’.

The firm agreed to pay only £130million in back taxes on an estimated £7.2billion of profits over the past decade.

Sajid Javid, the Business Secretary, yesterday admitted the deal with HMRC ‘wasn’t a glorious moment’ and said he agreed with small businesses who told him there was a sense of ‘injustice’ with the deal.

It also emerged yesterday that the Government had ordered Tory MEPs to vote against a proposed EU crackdown on Bermuda, which has a 0 per cent corporation tax rate. Google has no office and no staff on Bermuda. Its presence is said to amount to little more than a plain PO Box – numbered 666.

Appearing on BBC1’s Andrew Marr Show, Mr Barron said it was difficult to work out exactly how much corporation tax a global firm should pay in the UK.

Read More @ Dailymail.co.uk



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.