Google grilling puts spotlight on Bermuda and other UK tax havens
Comabout itsment from Oxfam reacting to this morning's grilling of Google bosses by Public Affairs Committee MPs over its tax arrangements and use of tax havens like Bermuda.
Commenting on MPs challenging Google over its tax avoidance and use of Bermuda at today's Public Affairs Committee hearing, Oxfam's Head of Inequality Nick Bryer said:
"MPs have quite rightly pointed the finger at Google today for dodging taxes and funnelling profits through Bermuda. Now the UK Government needs to put its own house in order by ensuring UK-linked tax havens like Bermuda and other Overseas Territories and Crown Dependencies reveal who really owns and controls the companies, foundations and trusts registered there.
"It's embarrassing that three years after David Cameron promised to make tax dodgers pay only one British Overseas Territory - Montserrat - has taken steps towards lifting the veil of secrecy that allows the super-rich and companies to avoid tax.
"Ahead of May's Anti-Corruption Summit, the UK government needs to finally end the era of tax havens that enables the world's richest to unfairly hide wealth away, robbing governments of vital revenue needed to tackle poverty and inequality.
"Developing countries are hardest hit by our broken global tax system, losing at least $100bn a year to corporate tax dodging that could help to fund desperately needed medicines, nurses and schools.
ENDS
