Parliamentary Information Office - Cox rejects UK MP’s call for tax policy change
Premier Paula Cox granted the mild rebuke last night, a member of the British Parliament where a proposed supply, in its defense, it wants the UK to change its fiscal policy in the UK British Virgin Islands taxes to put an end to the island's companies.
Labour MP John Mann, the UK House of Commons Treasury Committee member to make a note, when we talk about Google's work the tax amount for the Bermuda subsidiary.
MS Cox, who is also the Finance Minister, responded to the desire to change the Bermuda tax rules and told the legislature that the claim was "to pay all my bills" to Bermuda, including one of Bermuda's Governor, UK top representative on the island.
The independent newspaper reported, Google paid 6 million pounds last year, 395 million pound UK taxes on turnover.
The newspaper added to the tech giant is working with its Irish subsidiary, the system uses the Google UK agent, that is to say, the sales in Ireland, end up in the United Kingdom.
About 10% of the Commission, it must be returned to the Google UK. The payment is taxable when costs are reduced.
Google, then, to pay a lot of money in Ireland, it shall communicate to the Commission the internet giant Bermuda unit to ensure that the certificates have, that a large part of the turnover of the island, where the ends of the company's tax rate is zero. The process is perfectly legal.
"This system is turned on, Microsoft provides a legal basis for the defence and the British dependency of Bermuda as" Mr Mann told the independent.
"First of all we should ensure, firstly, that this is not possible in the EU. It is not certain that, if dodge taxes.
"Second, Bermuda, or the British dependency on assistance in our defense then it should stop aikoessa its tax policy. We have to pay twice, because we have to pay for the Bermuda. "
Mr Mann suggested that the Government should take a stronger stance, Bermuda tax avoidance schemes, which hit the British tax revenues ".
Bassetlaw MP did not respond to this message, which made his remarks to the press yesterday, requests.
Last night the Premier Cox replied: "we have the intention to change our centuries of our tax laws, which serves to further.
"In addition, I take this opportunity to remind Mr Mann, Bermuda pays all my drafts, including Bill Bermuda Governor."
He added that Bermuda was "a leading international tax-transparency" to the global forum on transparency and exchange of information and the OECD: N for taxation purposes.
"The Bermuda Government will continue to stand for a strong new business for Bermudians and me in our work in the United States, which provide opportunities for banks, will attract further" Ms Cox added.
"Bermuda is a global economic centre, which provides the maximum speed on the market, the investment in human capital and stable environment, which is used for general business. Bermuda international business activity in the US, this has been one of the main drawing card in the beginning. "
Mr. Mann is set to shine a light, the methods to be used for Google in order to minimise the tax burden. He said, the Ministry of finance, the Committee may invite to address tax avoidance is to use Google bosses. He described the company's tax practices "completely wrong and immoral".
"I think that it would be very appropriate to the legal systems in order to tow decision of the Executive Committee of this Parliament in the face of Google, we discuss the relevant provision of the session before Easter so realistically," he told the independent.
"Whether it is bad or immoral, the British taxpayer will be lost. Google is one of the big ones, but the other groups. "
Google does not have a physical, Bermuda. Bloomberg News report emphasises the company's filings, which stated in its 2010 collections of Google Ireland, however, was "the Centre of effective management of the" on the island.
The report adds that "this is controlled by a company owned by a couple of Google British Virgin Islands subsidiaries, two of their leaders, Conyers Dill & Pearman, a lawyer, and Hamilton, Bermuda to the list of the company's management".
Many international companies use the "pricing" attribute of the subsidiaries in low-tax jurisdictions. This often requires transferring company ownership of intellectual property rights. The other parts of the Organization have an obligation to pay royalties through a subsidiary company, then the licensing agreements for sale.
The policy is particularly among technology and pharmaceutical companies.
A Google spokesman told the independent: "we do, in the United Kingdom, regional and Community tax paid a significant role in the economy. We also employ more than 1 000 people, help hundreds of thousands of businesses online and set the new tech support companies in East London millions. We comply with all th tax rules.
Source of : http://www.royalgazette.com/article/20120815/BUSINESS02/708159975
Premier Paula Cox granted the mild rebuke last night, a member of the British Parliament where a proposed supply, in its defense, it wants the UK to change its fiscal policy in the UK British Virgin Islands taxes to put an end to the island's companies.
Labour MP John Mann, the UK House of Commons Treasury Committee member to make a note, when we talk about Google's work the tax amount for the Bermuda subsidiary.
MS Cox, who is also the Finance Minister, responded to the desire to change the Bermuda tax rules and told the legislature that the claim was "to pay all my bills" to Bermuda, including one of Bermuda's Governor, UK top representative on the island.
The independent newspaper reported, Google paid 6 million pounds last year, 395 million pound UK taxes on turnover.
The newspaper added to the tech giant is working with its Irish subsidiary, the system uses the Google UK agent, that is to say, the sales in Ireland, end up in the United Kingdom.
About 10% of the Commission, it must be returned to the Google UK. The payment is taxable when costs are reduced.
Google, then, to pay a lot of money in Ireland, it shall communicate to the Commission the internet giant Bermuda unit to ensure that the certificates have, that a large part of the turnover of the island, where the ends of the company's tax rate is zero. The process is perfectly legal.
"This system is turned on, Microsoft provides a legal basis for the defence and the British dependency of Bermuda as" Mr Mann told the independent.
"First of all we should ensure, firstly, that this is not possible in the EU. It is not certain that, if dodge taxes.
"Second, Bermuda, or the British dependency on assistance in our defense then it should stop aikoessa its tax policy. We have to pay twice, because we have to pay for the Bermuda. "
Mr Mann suggested that the Government should take a stronger stance, Bermuda tax avoidance schemes, which hit the British tax revenues ".
Bassetlaw MP did not respond to this message, which made his remarks to the press yesterday, requests.
Last night the Premier Cox replied: "we have the intention to change our centuries of our tax laws, which serves to further.
"In addition, I take this opportunity to remind Mr Mann, Bermuda pays all my drafts, including Bill Bermuda Governor."
He added that Bermuda was "a leading international tax-transparency" to the global forum on transparency and exchange of information and the OECD: N for taxation purposes.
"The Bermuda Government will continue to stand for a strong new business for Bermudians and me in our work in the United States, which provide opportunities for banks, will attract further" Ms Cox added.
"Bermuda is a global economic centre, which provides the maximum speed on the market, the investment in human capital and stable environment, which is used for general business. Bermuda international business activity in the US, this has been one of the main drawing card in the beginning. "
Mr. Mann is set to shine a light, the methods to be used for Google in order to minimise the tax burden. He said, the Ministry of finance, the Committee may invite to address tax avoidance is to use Google bosses. He described the company's tax practices "completely wrong and immoral".
"I think that it would be very appropriate to the legal systems in order to tow decision of the Executive Committee of this Parliament in the face of Google, we discuss the relevant provision of the session before Easter so realistically," he told the independent.
"Whether it is bad or immoral, the British taxpayer will be lost. Google is one of the big ones, but the other groups. "
Google does not have a physical, Bermuda. Bloomberg News report emphasises the company's filings, which stated in its 2010 collections of Google Ireland, however, was "the Centre of effective management of the" on the island.
The report adds that "this is controlled by a company owned by a couple of Google British Virgin Islands subsidiaries, two of their leaders, Conyers Dill & Pearman, a lawyer, and Hamilton, Bermuda to the list of the company's management".
Many international companies use the "pricing" attribute of the subsidiaries in low-tax jurisdictions. This often requires transferring company ownership of intellectual property rights. The other parts of the Organization have an obligation to pay royalties through a subsidiary company, then the licensing agreements for sale.
The policy is particularly among technology and pharmaceutical companies.
A Google spokesman told the independent: "we do, in the United Kingdom, regional and Community tax paid a significant role in the economy. We also employ more than 1 000 people, help hundreds of thousands of businesses online and set the new tech support companies in East London millions. We comply with all th tax rules.
Source of : http://www.royalgazette.com/article/20120815/BUSINESS02/708159975
