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Charlie Cooper (edited
Jan 27, 2016
The public might never be told about Google-style sweetheart tax deals which HM Revenue & Customs reaches with internet giants such as Facebook and LinkedIn, it has emerged as fury grows over the tax affairs of multinational companies.
Both HMRC and George Osborne have come under fire over the agreement allowing Google to pay £130m to cover a decade of back taxes, which critics claim is an effective tax rate of just 3 per cent.
The deal, hailed by the Chancellor as a "major success", paves the way to similar arrangements with other companies that have previously paid minimal UK tax despite having substantial British operations - although details of deals with such companies are not likely to be made public, as the Independentreports on Wednesday.
Here's how much UK tax five of the world's most recognisable companies have paid:
Paid £4,327 in tax in 2014, after a £28.5m loss in 2014, caused by paying out £35m in share bonuses
Apple
Paid £11.8m in tax in 2014 and channels sales through Ireland, although the company denies this is done to lessen its tax burden
Amazon
Paid £11.9m in tax in 2014 and previously channelled sales via Luxembourg. In last financial year booked more than £5.3bn of British online sales via its Luxembourg operation. Amazon.co.uk posted a modest profit of £34m
Paid £532,000 in tax for 2014. Majority of its UK sales were booked in its Irish subsidiary
Starbucks
Paid £8.1m in tax in 2015. Also paid £20m between 2012 and 2014 after a public outcry. Paid just £8.6m in UK corporation tax over 14 years
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