Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Technology
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Visual Stories
  • Reviews
  • Phone Reviews
  • Fitness Bands Reviews
  • Speakers Reviews
  • Find Cricket Statistics
Hindi
More
In the news
Afghanistan
Taiwan
Nancy Pelosi
Joe Biden
United States of America
China
Monkeypox
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Technology
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Visual Stories
Reviews
Phone Reviews
Fitness Bands Reviews
Speakers Reviews
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / World News / France rules out tax deal with Google
World

France rules out tax deal with Google

France rules out tax deal with Google
Written by Vijaya
Edited by Gaurav Jeyaraman
May 29, 2016, 04:11 pm 3 min read
France rules out tax deal with Google
Credits:

France's Finance Minister Michel Sapin said France will "go all the way" to ensure that multinationals operating on its soil pay their taxes. Clrifying France's stance, he ruled out negotiating any deal with Google on back taxes, as Britain did in January. Refering to other multi-nationals that could also be evading taxes, Sapin said "We'll go all the way. There could be other cases."

UK
Where did it all start?

Google's financial fiasco stems from debate between Google and the United Kingdom tax authorities. Its tax troubles in UK, that went on for more than six years, ended with an audit settlement on back taxes, in Jan 2016. Google had agreed to pay £130m in back taxes, dating back to 2005, an amount considered disproportionately small and condemned by many as a "sweetheart deal".

Avoiding Taxes?
How is Google working around Europe's tax laws?

Google's European headquarters is located in Dublin, Ireland, which has the lowest corporate tax rates (12.5%) of any European nation. Google channels its European profits through Ireland, despite operational centers in many other countries, including Italy and France. This for instance resulted in it paying only €5m in corporate tax in France in 2014 compared to revenues that year of €225.4m.

28 Jan 2016
EU's anti-trust cop to look into UK deal

Google could be forced to pay more UK tax by the EU after officials confirmed they will look into complaints from UK's Scottish Nationalist Party and Labour that the tech giant's settlement amounted to special treatment. This came hours after EU's top antitrust cop, Margrethe Vestager said that she was ready to take a look at Google's deal with the UK if someone complained.

Data
Loss to EU states due to tax avoidance

It was estimated that European Union states lose at least €50-70bn each year to corporate tax avoidance.

12 Apr 2016
EU's plans for large companies concerning tax affairs

European Union had unveiled plans to force large companies to disclose more about their tax affairs. The rules on "country-by-country reporting" would affect multinational firms with more than €750m in sales. As per the proposals, MNCs would have to disclose for each country within the EU, the nature of their activities, net turnover, profit before tax, income tax dues and the tax paid.

Probe
French probes against Google - Past and present

Google's offices have been raided by French authorities before, in June 2011, during an investigation into transfers to its Irish headquarters. Google France received a "notification" of the investigation back in March 2014. A probe launched in June 2015 aimed to "check" whether Google Ireland Limited, "by not declaring part of its activity carried out on French territory, has failed in its tax obligations."

Information
Other MNCs facing EU tax probe

Apart from Google, MNCs that are facing EU tax probes include Apple, Starbucks, Fiat Chrysler Automobiles, Ikea, and McDonald's.

25 May 2016
Google's Paris office raided in tax probe

French officials raided the Paris offices of tech giant Google as part of a tax fraud investigation. According to the authorities it was part of a preliminary investigation into aggravated tax fraud opened in June last year. The move comes after EU's recent attempt to crack down tax-avoidance schemes by multinational companies. France is seeking as much as €1.6bn in unpaid taxes from Google.

Share this timeline
Facebook
Whatsapp
Twitter
Linkedin
Vijaya
Vijaya
Mail
Eternally curious (at times bordering on FOMO), firm believer of science and equality. Biotech graduate with a totally irrelevant marketing degree.
Gaurav Jeyaraman
Gaurav Jeyaraman
Mail
News and music is all its been and is all it ever will be. A cold beer doesn't hurt sometimes either.
Latest
Latest
Porsche unveils a one-off 911 Sally Special edition: Check features
Porsche unveils a one-off 911 Sally Special edition: Check features Auto
Premier League 2022-23: 10-man Liverpool hold Crystal Palace 1-1
Premier League 2022-23: 10-man Liverpool hold Crystal Palace 1-1 Sports
La Liga 2022-23, Atletico Madrid beat Getafe 3-0: Key stats
La Liga 2022-23, Atletico Madrid beat Getafe 3-0: Key stats Sports
Motorola RAZR 2022 v/s Samsung Galaxy Flip4: Which is better?
Motorola RAZR 2022 v/s Samsung Galaxy Flip4: Which is better? Technology
'The Legend of Maula Jatt': Everything about Fawad-Mahira's reunion film
'The Legend of Maula Jatt': Everything about Fawad-Mahira's reunion film Entertainment
Next News Article
Next News Article

Love World news?

Subscribe to stay updated.

World Thumbnail
India News Business News World News Politics News Sports News Technology News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Mukesh Ambani Indian Premier League (IPL) Karnataka Samsung Xiaomi West Bengal
Bihar Virat Kohli Rohit Sharma Haryana Narendra Modi Arvind Kejriwal Tamil Nadu Gujarat Yogi Adityanath YouTube
Instagram Hollywood News Uttar Pradesh Kerala Netflix Bollywood News Mamata Banerjee Maruti Suzuki Rahul Gandhi Elon Musk
Shah Rukh Khan Chelsea FC OPPO Akhilesh Yadav Indian Cricket Team Apple Manchester United Salman Khan Cryptocurrency OnePlus
Amitabh Bachchan ICC Women's World Cup Vivo India vs Sri Lanka
About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive IPL 2022 Schedule IPL 2022 Points Table Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2022