Europe, Middle East and Africa Oil and Gas Correspondent
Tom's Feed
Jun 3, 2013

Bermuda is no tax haven says finance minister

LONDON (Reuters) – Bermuda is not to blame for companies such as Google using Bermudan subsidiaries to shelter billions of dollars from U.S. and European tax authorities, the territory’s finance minister said on Monday.

Google has come under fire from British lawmakers for channeling billions of dollars a year through an Irish subsidiary to a Dutch sister company which then passes the money to another affiliate in Bermuda.

May 21, 2013

The Irish loophole behind Apple’s low tax bill

LONDON (Reuters) – Apple’s ability to shelter billions of dollars of income from tax has hinged on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs.

A U.S. Senate investigation revealed on Monday that Apple, maker of iPhones, iPads and Mac computers, had channeled profits into Irish-incorporated subsidiaries that had “no declared tax residency anywhere in the world”.

May 20, 2013

Labour calls for country-by-country tax reporting

LONDON (Reuters) – The Labour party, tapping into widening public anger over corporate tax avoidance, wants the government to push for new international rules to force companies to report profit and tax payments country-by-country.

Campaigners say the move, which is receiving increased support internationally despite strong opposition from business, would deter companies from shifting profit into tax havens where they have no staff or sales.

May 19, 2013

Labour party calls for country-by-country tax reporting

LONDON (Reuters) – Opposition Labour party, tapping into widening public anger over corporate tax avoidance, wants the government to push for new international rules to force companies to report profit and tax payments country-by-country.

Campaigners say the move, which is receiving increased support internationally despite strong opposition from business, would deter companies from shifting profit into tax havens where they have no staff or sales.

May 19, 2013

UK opposition calls for country-by-country tax reporting

LONDON (Reuters) – Britain’s opposition Labour party, tapping into widening public anger over corporate tax avoidance, wants the government to push for new international rules to force companies to report profit and tax payments country-by-country.

Campaigners say the move, which is receiving increased support internationally despite strong opposition from business, would deter companies from shifting profit into tax havens where they have no staff or sales.

May 17, 2013

After Google, Amazon to be grilled on UK tax presence

LONDON (Reuters) – Internet retailer Amazon.com Inc. will be called back to the British parliament to clarify how its activities in the UK justify its low corporate income tax bill, two lawmakers told Reuters.

Amazon will follow search giant Google, which attended another grilling by parliament’s Public Affairs Committee (PAC) over its tax affairs on Thursday. A Reuters report earlier this month raised questions over Google’s earlier assertions that its UK-based staff don’t sell to customers.

May 17, 2013

MPs challenge Google’s ‘smoke and mirrors’ on tax

LONDON (Reuters) – Google Inc faced angry questions on Thursday from MPs investigating its tax affairs and whether it had misled parliament in testimony last year, adding fuel to a debate on taxation that has risen to the top of the UK political agenda.

Google’s Northern Europe boss, Matt Brittin, was called back to testify to parliament’s Public Accounts Committee (PAC) after a Reuters investigation showed the company employed staff in sales roles in London, even though he had told the committee in November its British staff were not “selling” to UK clients.

May 16, 2013

UK lawmakers challenge Google’s “smoke and mirrors” on tax

LONDON, May 16 (Reuters) – Google Inc faced angry
questions on Thursday from British lawmakers investigating its
tax affairs and whether it had misled parliament in testimony
last year, adding fuel to a debate on taxation that has risen to
the top of the UK political agenda.

Google’s Northern Europe boss, Matt Brittin, was called back
to testify to parliament’s Public Accounts Committee (PAC) after
a Reuters investigation showed the company employed staff in
sales roles in London, even though he had told the committee in
November its British staff were not “selling” to UK clients.

May 16, 2013

MPs find Google misleading on tax

LONDON (Reuters) – Google Inc faced angry questions on Thursday from MPs investigating its tax affairs and whether it had misled parliament in testimony last year.

Google’s Northern Europe boss, Matt Brittin, was called back to testify to parliament’s Public Accounts Committee (PAC) after a Reuters investigation showed the company employed staff in sales roles in London, even though he had told the committee in November its British staff didn’t sell to UK clients.

May 16, 2013

UK lawmakers find Google misleading on tax

LONDON, May 16 (Reuters) – Google Inc faced angry
questions on Thursday from British lawmakers investigating its
tax affairs and whether it had misled parliament in testimony
last year.

Google’s Northern Europe boss, Matt Brittin, was called back
to testify to parliament’s Public Accounts Committee (PAC) after
a Reuters investigation showed the company employed staff in
sales roles in London, even though he had told the committee in
November its British staff didn’t sell to UK clients.

    • About Tom

      "Tom leads our coverage of the oil and gas industry in Europe, the Middle East and Africa and is also author of 'Spills & Spin: The Inside Story of BP'. A former oil broker who turned to journalism 12 years ago, he is regularly interviewed on CNBC and other TV and radio stations on energy matters. Tom has reported from over twenty countries including Iran, Iraq, India, Pakistan, Tanzania, the U.S. and Russia. As Europe, Middle East and Africa Oil & Gas Correspondent, he has chartered the rise in oil prices to record levels, interviewed oil ministers and the CEOs of ..."
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