09:35 23 April 2013
Eric Schmidt has defended Google’s tax affairs saying they fully comply with the law and that it was acting in the same way as other firms. This is despite of the fact that the internet giant paid just £6million in corporation tax in 2011 after earning billions of pounds from operating in the UK.
MP’s were very vocal about their disappointment with multinational firms, which include Google for utilizing smart ways to avoid paying the right amount of taxes.
The Public Accounts Committee accused Google, Amazon, and Starbucks of “using the letter of tax laws both nationally and internationally to immorally minimise their tax obligations.”
Talking about the issue, the Google boss said: "I think the most important thing to say about our taxes is that we fully comply with the law and obviously, should the law change, we'll comply with that as well."
However, Margaret Hodge, the committee chairman, told Mr Schmidt that they do not accuse Google of being illegal but being immoral.
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