(MoneyNewsWire.Net, November 28, 2013 ) Boise City, ID -- On October 1, leading business news blog DigitaOlympus.com comments on recent news story by Tom Bergin published on September 30 on reuters.com regarding Google which has been probed twice in the past year by a UK parliamentary committee as a result of its tax practices, and had a UK tax bill of 35 million pounds ($55 million) in 2012, on sales of $4.9 billion to British customers, as indicated by its account.
The reuters.com news story points that the web search titan account showed that it paid a tax rate of 2.6 percent on $8.1 billion in non-U.S. income in 2012, for the reason that it routed nearly all of its overseas profits to a subsidiary in Bermuda which levies no corporate income tax. Google declares it adheres to all tax rules in all the countries where it operates and it does not pay much tax in Britain because its profits are not produced by its UK workers.
“The decision by Google to settle its tax payment in the UK is a step in the right direction for the search engine giant,” says a DigitalOlympus.com spokesperson. “It’s important for other firms who plan to extend their footprint overseas to seek the services of firms that specialize on how to avert breaching the foreign corrupt practice acts.”
According to Bergin’s report, “Google UK Ltd, and other subsidiaries across mainland Europe, pays little tax because they are designated as providers of marketing services to Google Ireland Ltd, the Dublin-based subsidiary whose name appears on invoices to most non-U.S. clients.”
“While every firm has a defined business strategy, it’s still important to consider the right strategy that is suitable in each country,” says DigitalOlympus.com principal researcher Josh Cole. “Experts that specialize in due diligence investigations can be consulted on how to choose the suitable strategy while doing business in a country.”
As a finance and technology research firm, DigitalOlympus.com is committed to promoting the adoption of asset search policies and procedures that can help companies improve their practices with respect to records and internal controls.
DigitalOlympus.com is a news blog dedicated to educating its readers on the latest technology and business advances. They are committed to gathering information on up and coming technologies and business decisions that will enhance the lives of their readership. Digitalolympus.com is always at the forefront of technology, and business news and events guiding its readers to accurately determine the best course of action for themselves and their businesses.