Google funnelled an astonishing £6billion through the tax haven of Bermuda in a year – while paying just 0.1 per cent of that amount in British corporation tax. Official documents reveal that by exploiting the tiny tax haven the internet giant halved its global tax bill in 2011 – leaving governments, including the UK, out of pocket by more than £1billion. In the same year the firm legally arranged its accounts to surrender just £6million in corporation tax in the UK. The startling revelations came yesterday as David Cameron called on world leaders to launch a global crackdown on tax avoidance by multinationals.
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Google funneled £6billion to Bermuda, avoiding £1billion tax bill
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David Cameron wrote to G8 leaders calling for a stop to 'unfair' practice
The @placeholder yesterday took over the 12-month revolving presidency of the G8 group of leading industrialised countries.