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 Outrageous: Google OZschwitz's tax bill jumps tenfold

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Outrageous: Google OZschwitz's tax bill jumps tenfold Vide
PostSubject: Outrageous: Google OZschwitz's tax bill jumps tenfold   Outrageous: Google OZschwitz's tax bill jumps tenfold Icon_minitimeWed Apr 30, 2014 10:28 pm
Google Australia's tax bill has risen more than tenfold to $7.1 million.

Outrageous: Google OZschwitz's tax bill jumps tenfold HP_google_wide-20130715190941785118-620x349

Despite the big increase, following a political backlash against the Australian arm of the technology giant, the tax bill is only 15 per cent of its Australian profits, which don't count Google's lucrative search business.

Tax information shows that in 2013, Google Australia booked revenue of $357.7 million, up $90 million from $269 million.

Profit increased to $46.5 million, up from $22.4 million the year before.

Google Australia does not count revenues earned from its search business, which is estimated to generate between $1 to $1.5 billion each year in Australia. For tax purposes, Google's search business customers get billed in Singapore, not in Australia.

That means its corporate tax bill is a fraction of its overall profit.

Read more: http://www.smh.com.au/business/the-economy/google-australias-tax-bill-jumps-tenfold-20140501-37iq1.html#ixzz30QXalAun
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