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Australia Blames Google for Slashing its Tax Bill
Google keeps denying media allegation when being scrutinized for amount of tax paid last year compared with its $46.5m profits. The company’s Australian operation may have had its $7.1m tax bill reduced to less than $500,000 last year.
Fairfax Media has recently revealed that Google Australia had its taxes reduced after various tax deductions. However, the company also reported that it had made about $46.5 million in local pre-tax profits – this is what the Australian Securities and Investments Commission found from Google’s filings.
But Google denied the allegation, claiming that it had paid $7.1 million in corporate taxes and about $15 million in payroll and other taxes in Australia. Like in many other countries, tech giants in Australia have come under scrutiny for the relatively small amount of tax they pay if compared to their approximate profits. This normally leads to calls for an overhaul of tax legislation.
Recently, 8 multinational corporations have been reviewed in the country by the tax office due to the low taxes they pay. Besides, it was also reported earlier in 2014 that Apple’s Australian department had shifted $8.9 billion in untaxed profits to a tax haven structure in Ireland. Apparently, the country couldn’t like this fact and continues investigating the issues.
Try to be nice always
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