Google, now part of Alphabet Inc (GOOGL.O), agreed to pay 130 million pounds ($185.39 million) in back taxes in the UK, and higher taxes in the future, in a deal that could lead to the company paying more in other countries where it has been accused of evading tax, the Financial Times reported on Friday.

The agreement comes after a multiyear audit by Her Majesty’s Revenue and Customs (HMRC) looking into whether Google sidestepped tax for over a decade by allocating profits to Ireland, where its European operations are based, the FT said. (on.ft.com/1NqmKhB)

Google and HMRC were not immediately available for comment.

The European Union and national governments have been taking a tougher stand against profit-shielding arrangements used by multinational companies, including Google, Apple (AAPL.O) and Amazon (AMZN.O).

($1 = 0.7012 pounds)

(Reporting by Anya George Tharakan in Bengaluru; Editing by Don Sebastian)

This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers.

Related Posts

Facebook Comments

Return to Top ▲Return to Top ▲