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Google to pay 130 mln pounds in back taxes in UK - FT
January 22, 2016 / 10:37 PM / 2 years ago

Google to pay 130 mln pounds in back taxes in UK - FT

Jan 22 (Reuters) - Google, now part of Alphabet Inc , 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 and Amazon. ($1 = 0.7012 pounds) (Reporting by Anya George Tharakan in Bengaluru; Editing by Don Sebastian)

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