[New post] Google, Apple & Microsoft called out on “pretend” overseas tax arrangements by Citizens for Tax Justice

Ben Lovejoy posted: " Lobbying group Citizens for Tax Justice has called out Google, Apple and Microsoft and others for what it described as "accounting tricks" in which companies "pretend" to be based overseas for tax purposes. The claims were made in a report entitled Of" Respond to this post by replying above this line New post on 9to5Google Google, Apple & Microsoft called out on “pretend” overseas tax arrangements by Citizens for Tax Justice by Ben Lovejoy Lobbying group Citizens for Tax Justice has called out Google, Apple and Microsoft and others for what it described as "accounting tricks" in which companies "pretend" to be based overseas for tax purposes. The claims were made in a report entitled Offshore Shell Games 2015. Many multinational corporations use accounting tricks to pretend for tax purposes that a substantial portion of their profits are generated in offshore tax havens, countries with minimal or no taxes where a company's presence may be as little as a mailbox. Multinational corporations' use of tax havens allows them to avoid an estimated $90 billion in federal income taxes each year. Google's overseas tax arrangements came under fire in the UK back in 2013 when it was revealed that the company paid just £6M ($9.4M) on a UK turnover of £395M ($620M), claiming that all its advertising sales were made by staff in Ireland (a claim later challenged) ... Read more of this post Ben Lovejoy | October 7, 2015 at 6:32 am | Tags: Apple Inc., Eric Schmidt, GOOG, Google, tax, tax arrangements, tax avoidance | Categories: Google Corporate | URL: http://wp.me/p1w6tN-vyT Comment    See all comments Unsubscribe to no longer receive posts from 9to5Google. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: http://9to5google.com/2015/10/07/google-overseas-tax-arrangements/ Thanks for flying with WordPress.com