A “Google tax” introduced by the coalition government to crack down on multinationals shifting profits overseas has been criticised as a “total failure”, as new documents show it is predicted to raise no money over the next six years. The diverted profits tax, introduced in 2015, was hailed as a pioneering effort to tackle multinationals who were reducing their UK corporation tax by shifting profits overseas. It was predicted by officials that the tax would raise up to £400m a year,… Source link
Read More »Osborne’s ‘Google tax’ on overseas profits now raises zero revenue, Treasury reveals | Tax and spending
