Showing posts with label tax evasion. Show all posts
Showing posts with label tax evasion. Show all posts

Sunday, May 19, 2013

'Google is cheating British taxpayers out of millions... what they are doing is just immoral': Web giant accused of running 'scandalous' tax avoidance scheme by whistleblower Read more: http://www.dailymail.co.uk/news/article-2326897/Google-tax-avoidance-row-Internet-giant-accused-scandalous-tax-avoidance-scheme-whistleblower.html#ixzz2TkN0odzA Follow us: @MailOnline on Twitter | DailyMail on Facebook

From - http://www.dailymail.co.uk/news/article-2326897/Google-tax-avoidance-row-Internet-giant-accused-scandalous-tax-avoidance-scheme-whistleblower.html

* Barney Jones said Google diverts British profits through Ireland to Bermuda 
* Former executive said company 'pulled the wool over the eyes' of HMRC
* Adds to mounting pressure on Google over its tax affairs 
* Company says all sales contracts go through its low-tax Ireland office 
* Last year, paid just £7.3million in corporation tax on UK turnover of £3billion

A former Google executive turned whistleblower says he has 100,000 emails that expose the 'immoral' tax avoidance scheme used by his former employer.
Barney Jones said the company has 'pulled the wool over the eyes of HMRC and the British population'
Barney Jones, who worked for Google from 2002 until 2006, said the company has 'pulled the wool over the eyes of HMRC and the British population'.

He claims Google has a system in place which diverts British profits through Ireland to the Bermuda tax haven and accused the company of 'cheating' the British taxpayer. 

The internet giant has been under increasing pressure about allegations of tax avoidance.
Prime Minister David Cameron will lead efforts at next month's G8 summit of world leaders to find ways of preventing multinational firms from exploiting tax loopholes.

He is due to meet Google's executive chairman Eric Schmidt tomorrow at the quarterly meeting of the prime minister's Business Advisory Group. 

Last week, Matt Brittin, a vice-president of Google, was aggressively questioned by MPs, who accused the company of 'doing evil' by using 'devious, calculated and unethical' tricks to minimise its liabilities.

It paid just £7.3million in corporation tax last year despite having a UK turnover of £3billion.

Yet, Google assert that all its sales are made in low-tax Ireland, rather than the UK, where corporation tax is just 12.5 per cent compared to 23 per cent in Britain. 

Mr Jones's earlier testimony to the PAC gave MPs such as chair Margaret Hodge further ammunition for the questioning of Mr Brittin last week.

Friday, May 10, 2013

The net closes in on super rich tax dodgers: Spies expose how hundreds of Britons are 'hiding billions' in foreign tax havens



Hundreds of ultra-wealthy Britons are being investigated for tax evasion following the exposure of their secret offshore accounts.

International spy agencies are thought to have helped obtain a 'goldmine' of data that names high-profile multi-millionaires and their financial advisers.
The files show how the rich have hidden billions in Singapore, the British Virgin Islands and the Caymans. 
Ultra-wealthy Britons are being investigated over claims they are hiding cash in secret offshore accounts in places like the Cayman Islands (pictured)
Ultra-wealthy Britons are being investigated over claims they are hiding cash in secret offshore accounts in places like the Cayman Islands (pictured)
More than 100 individuals have been identified so far – and have already been sent warning letters by HM Revenue & Customs.
'You're talking about super-rich people,' said one source, who added that many of the names on the list were well known.
Offenders face paying the tax they have dodged along with massive fines.
Officials are unsure what sums are at stake but pointed out that a crackdown on millionaires who hid money in Liechtenstein is expected to raise £3billion.
Last night George Osborne said: 'The message is simple: if you evade tax we're coming after you. This data is another weapon in HMRC's arsenal.'
The Chancellor has previously expressed shock at the extent to which the wealthy were exploiting tax loopholes.


Read more: http://www.dailymail.co.uk/news/article-2322212/The-net-closes-super-rich-tax-dodgers-Spies-expose-hundreds-Britons-hiding-billions-foreign-tax-havens.html#ixzz2SsdiSVhL
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