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Tuesday’s Daily News Digest
May 31st, 2011

Africa Looks Poised for Second Independence InDepth NewsViewpoint, May 31, 2011

New directorate to probe financial crimes Indian Express, May 30, 2011

Govt bid to put figure to black money The Times of India, May 30, 2011

FE Editorial: Taxing tangle The Financial Express, May 31, 2011

U.S. Engages With an Iron Leader in Equatorial Guinea New York Times, May 30, 2011

Light-footed Google in $4.6bn tax dodge The Sunday Times, May 30, 2011

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Google: Big Time Tax Avoider, and Getting Bigger by the Year (£187 Million in UK in 2009)
May 31st, 2011
The Sunday Times did an expose of Google’s tax affairs Sunday. I’ll declare an interest: they asked me to help the investigation, and I did. The findings? Google has avoided £3 billion of tax worldwide over the last five years. It’s tax rate outside the USA is just 3%. In 2009, if Google had declared profits in proportion to sales in the UK in the ratio that the worldwide accounts showed (about 35% profit pre tax) then the expected UK tax bill would have been about £190 million.
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