As British public spending comes under pressure, tech superstars seemingly avoid two-thirds of tax burden
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Research by campaign group TaxWatch shows the group, including Microsoft, Google parent company Alphabet, Facebook owner Meta and Apple collectively contributed about £750 million to the UK's exchequer in 2021. If profits had not been routed elsewhere in complex — but perfectly legal — tax schemes, the figure would have been closer £2.8 billion , according to a study based on the companies' revenue.
Claire Ralph, director of TaxWatch, said:"Our analysis, backed up by the recent example of Microsoft's settlement of UK corporation tax underdeclared over several years, proves how the complex international tax rules can be abused by multinational corporates to shift profits out of the UK tax net. "We call on the government to remedy the lack of publicly available data about UK corporation tax paid on what taxable profits multinational giants make here," she said.In February, the Organization for Economic Cooperation and Development set out the technical guidance to help governments implement a global tax floor of 15 percent in a move designed to discourage businesses from offshoring profits to minimize their tax burden in a particular jurisdiction.
Microsoft told The Guardian it supported a global approach to tax rules while Meta said it understood the"frustration" about how multinationals were taxed. Amazon contested the findings. saying they were incorrect and based on wrong assumptions.
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