It's not a V bottom, it's not a U bottom, it's a Nike swoosh recovery - Greg McLenon, Hotovec Pomeranz
A PETITION TO make Google pay a higher level of UK tax is close to its 50,000 signature target just three days after it launched.
The campaign is being run by protest group 38 Degrees and already has nearly 45,000 signees. The campaign has a target of 50,000 today.
"In the run up to the Olympics, 38 Degrees members forced corporate sponsors to commit to paying their fair share of tax on Olympic profits. Google should be pressured to do the same with its profits," it says.
"The time has come for all multinational companies to live up to their responsibilities. If enough of us sign the petition we can make Google reconsider its position on tax dodging."
It was revealed last week that Google pays only a small amount of UK tax on high earnings, £6m in taxes on profits of £395m. This is part of Google's business plan, and last year its CEO Eric Schmidt said that the firm would make as much use of the UK's tax laws as it could.
"It's very good for us, but to go back to shareholders and say 'We looked at 200 countries but felt sorry for those British people so we want to [pay them more]' ... there is probably some law against doing that," he said.
Google has not commented on the criticism it has received since its tax payments were revealed by the Telegraph, but it could face scrutiny from the Government, according to an MP who spoke to the Independent.
""It is entirely immoral, this is a company avoiding its obligations and we are letting them get away with doing it," said MP John Mann.
"I think it would be highly appropriate to pull a Google executive in front of the Committee to justify their failure to pay proper taxes, we would be looking at covering the issue in this parliamentary session, so before Easter, realistically. Whether it is illegal or immoral, the British tax payer loses out." µ
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