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Thursday, November 27, 2014

The Future of Technology - Avoiding Mega Systems

Thursday, November 27, 2014


Google, Amazon and Starbucks have been named and shamed for not paying corporate taxes. Starbucks sales were quoted at £400 million, just in the UK, in 2012, yet they paid no corporate taxes. Starbucks managed to dodge taxes by transferring money to its Dutch sister company, buying large quantities of beans from Switzerland and paid high interest rates when borrowing from other parts of the company.
Amazon were another international company that manages to dodge the taxes, not completely though. Compared to Amazon's £3.35 billion in sales they only paid taxes of £1.8 million, clearly way under what they should be paying. Google, the search engine used world wide, are also under scrutiny for the amount of taxes they pay. Google only paid £6 million to the treasury compared to their £395 million they took in sales, in 2011.

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