Chairwoman of the corporate tax avoidance meeting in UK: Do you all of you accept that alongside your duties to your shareholders all of you alluded to, you have obligations to the society you operate in from which you derive these huge benefits and those obligations include paying tax ? Executives of Google, Amazon, Starbucks unanimously: Yes! Chairwoman again: Do you accept the principle that the profits should be taxed in the country in which they are made and where genuine economic activity is concerned ? Starbucks: very much so! Amazon: Yes! Google: Ah..Profits should be taxed in the country in which economic activity takes place which drives those profits, which in our case is the place where innovation takes place. Chairwoman (giving rise to a riot of laughter): ..which in your case is Bermuda, isnt it?
Posted on: Thu, 25 Dec 2014 12:00:42 +0000
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