London, go to the Google Tax: levy of 25% on the profits of multinationals

December 5, 2014, 6:40 pm | di FIRSTonline editorial team | 0

The tax on profits will come into effect from April 2015 and will bring the British coffers about 1 billion pounds over the next 5 years – Osborne: “Low taxes, but taxes for everyone”.

London, go to the Google Tax: levy of 25% on the profits of multinationals

London launches its Google tax. Indeed, the British government has announced the introduction of a new tax on multinational companies that seek to avoid paying contributions to the British taxman. A tax that was immediately dubbed the "Google tax" and which will come into force in April.

It is, as stated by the Chancellor of the Exchequer George Osborne, "A 25% tax on the profits generated by multinational companies with activities here in the UK which are artificially taken out of the country".

“We will ensure that the big multinationals pay their dues,” he continued Osborne "Some of the largest companies in the world, many in the technology sector, use elaborate structures to avoid paying taxes." The British message is clear: “Low taxes, but taxes that will be paid. Great Britain has set an example to the world on this issue and continues to do so today”. The Transferred Profits Tax target aims to raise more than £1,6bn (€XNUMXbn) over the next five years.

FIRSTonline editorial team

FIRSTonline is an independent web journal of economics, finance and stock exchange published by AL Iniziative Editoriali Srl with registered office in Rome, founded and controlled by Ernesto Auci e Franco Locatelli and owned by two minority shareholders (Alessandro Pavesi and Laura Rovizzi). The portal and its applications are created in daily life by two agile editorial offices, one in Milan and one in Milan Roma, and by an innovative and effective team of innovation and web managers.