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ExtraTorrent.cc > Articles > Australia Blames Google for Slashing its Tax Bill

Australia Blames Google for Slashing its Tax Bill

Australia Blames Google for Slashing its Tax Bill

Added: Wednesday, May 7th, 2014
Category: Recent Headlines Involving File Sharing > Current Events
Tags:ET, p2p, Torrent, Piracy, Peer To Peer, Network, Hackers, Internet, BitTorrent, Google, utorrent, bitcomet, extratorrent, 2013, www.extratorrent.cc
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.

Posted by:  SuperAdmin
Date:  Wednesday, May 7th, 2014

Comments (5) (please add your comment »)

posted by Site FriendET junkieET lovermenSunTurtle (2014-05-07 15:07:43)
Sammy1968 avatarI may not understand a lot about big corporations, but one thing is for sure. People who work in this world pay taxes to the governments. Mortgage payments/gas/food(not taxable here). And that's just the tip of the iceberg. If not for the people working for small or large companies, this world would have nothing but maybe resorting back
to the barder system.

posted by (2014-05-07 23:11:09)
cggc avatarGoogle bought robot and drone companies and if you see news most of time about Government reports that articles said Government project not from Google. and, if Google want contract with Governments maybe all parties pay tax bills and each like at USA and world's countries or just Google.

posted by (2014-05-08 06:49:16)
TheyHackL33T avatarBarder System would work 10x better than what we have going on now, as everything climbs cent by cent at a slow crawl people don't notice the increase, at least with the barder system it's a flat rate for one item to the next.

posted by (2014-05-08 09:38:00)
cobrin avataromg it's Barter System people....

posted by (2014-05-08 11:56:29)
beano111 avatarHaha, yeah.
Seems like it takes ages to Google something in Aus, then we lose out from tax revenue.
Internet is crap here and so is Google. It's also expensive to use the net. Google's fault?

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