Schmidt on Google's UK Taxes: This Is How It's Done

Google Executive Chairman Eric Schmidt defended the company's tax practices in the United Kingdom, where Google and a handful of other U.S. tech companies have been chastised for not paying enough taxes. Google paid just over $9 million in UK taxes in 2011, despite hundreds of millions in turnover. The company was able to pull this off by operating out of Ireland, which has a much lower tax rate.

Source: http://www.technewsworld.com/rsstory/77852.html

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