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Newsjock

(11,733 posts) Wed Dec 3, 2014, 01:34 PM Dec 2014

UK to implement 25 percent 'Google tax'

Source: Ars Technica

British Chancellor of the Exchequer George Osborne has announced a new "Google tax" to stop multinational companies from dodging tax on their UK profits. The new 25 percent tax was announced during the chancellor's autumn statement.

Speaking to parliament, Osborne said that multinational businesses needed to pay their fair share. The new tax is designed to close a loophole that allows companies to avoid paying tax on profits generated in the UK. The 25 percent tax is known as the "diverted profit tax."

"Today I am introducing a 25 percent tax on profits generated by multinationals from economic activity here in the UK which they then artificially shift out of the country," the chancellor said. "That's not fair to other British firms. It's not fair to the British people either. My message is consistent and clear. Low taxes; but taxes that will be paid."

Read more: http://arstechnica.com/tech-policy/2014/12/uk-to-implement-25-percent-google-tax/

9 replies

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Highlight:

UK to implement 25 percent 'Google tax' (Original Post) Newsjock Dec 2014 OP

Meanwhile back in the US, Congressional Democrats are working on trickle-down. Scuba Dec 2014 #1

We need to get rid of sold out democrats! TheNutcracker Dec 2014 #2

I call them "Vichy Democrats" Kelvin Mace Dec 2014 #5

Ka'Ching. This is best one. TRoN33 Dec 2014 #8

I hope this is the beginning of a trend. GitRDun Dec 2014 #3

+1 n/t KT2000 Dec 2014 #4

Yes! TexasMommaWithAHat Dec 2014 #7

O-bama's fault! SoapBox Dec 2014 #6

Great... davidpdx Dec 2014 #9

Scuba

(53,475 posts)

1. Meanwhile back in the US, Congressional Democrats are working on trickle-down.

Reply to Newsjock (Original post)

Wed Dec 3, 2014, 01:41 PM

Dec 2014

http://www.dailykos.com/story/2014/11/25/1347464/-Reid-in-talks-on-tax-package-ending-breaks-for-middle-class-extending-some-for-nbsp-business

TheNutcracker

(2,104 posts)

2. We need to get rid of sold out democrats!

Reply to Scuba (Reply #1)

Wed Dec 3, 2014, 01:43 PM

Dec 2014

Kelvin Mace

(17,469 posts)

5. I call them "Vichy Democrats"

Reply to TheNutcracker (Reply #2)

Wed Dec 3, 2014, 03:17 PM

Dec 2014

the love collaborating with the GOP.

TRoN33

(769 posts)

8. Ka'Ching. This is best one.

Reply to Kelvin Mace (Reply #5)

Wed Dec 3, 2014, 03:59 PM

Dec 2014

GitRDun

(1,846 posts)

3. I hope this is the beginning of a trend.

Reply to Newsjock (Original post)

Wed Dec 3, 2014, 02:00 PM

Dec 2014

These legal and financial machinations by the "haves" are directly responsible for underwater government budgets.

If this spreads to the US, maybe we can start helping people instead of blaming them for not having a job that some multinational company moved to the lowest cost alternative country.

KT2000

(20,588 posts)

4. +1 n/t

Reply to GitRDun (Reply #3)

Wed Dec 3, 2014, 02:24 PM

Dec 2014

TexasMommaWithAHat

(3,212 posts)

7. Yes!

Reply to GitRDun (Reply #3)

Wed Dec 3, 2014, 03:52 PM

Dec 2014

All countries need to do this, or this jerk holes will continue to shop for the country with the lowest taxes while using another's countries infrastructure to sell their goods.

SoapBox

(18,791 posts)

6. O-bama's fault!

Reply to Newsjock (Original post)

Wed Dec 3, 2014, 03:29 PM

Dec 2014

But I digress...

Nothing is going to happen if people don't FUCKING VOTE out Pukes at all levels of America!

And it appears that several hundred million registered U.S. voters are simply to busy tweeting, texting, gaming, shopping Walmart, eating junk, etc....to vote.

Hope they enjoy President Bush.

davidpdx

(22,000 posts)

9. Great...

Reply to Newsjock (Original post)

Wed Dec 3, 2014, 08:59 PM

Dec 2014

I order my books through a company in the UK so I can expect the prices to go up. They are one of the few companies that I've been able to buy books and get them delivered to South Korea.

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