Britain wants to Apple and other corporations pay 25 percent tax on profits derivable abroad




The UK Government intends to introduce a tax of 25% on profits Apple, Google, Amazon and other multinational companies, they have received from economic activities in the UK and abroad artificially outputted. On Wednesday said the country’s finance minister George Osborne in the traditional “autumn treatment” to the British Parliament.


Tax, officially called Diverted Profit Tax, is expected to increase revenues in the budget for the British £ 1 billion over the next 5 years.

British journalists earlier this initiative dubbed “tax Google», as the Internet giant, along with other corporations has used a loophole in the tax laws. According to the Financial Times, 7 the largest high-tech companies in the United States in 2012 in the UK only paid 54 million pounds (less than $ 85 million) of income tax, while their turnover directly in the country is estimated at 1.7 billion pounds, while total sales to British customers – at $ 15 billion.

Total income tax rate for organizations in the UK is 21%, and multinational companies often take away profits from taxation in the country to Ireland, where the rate is 12.5%.

Earlier it was reported that the 11 EU states are skeptical about the initiative of Germany and France: politicians have proposed to January 2016 to impose a tax on financial transactions, the so-called “tax Robinhood.” Britain was among those countries. Among the supporters of tax – Belgium, Spain, Italy and Portugal.

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