London: Google's chairman, Eric Schmidt, has defended his firm’s tax avoidance policies in the UK, saying that the Internet search giant ‘fully complies with the law’.
During an interview with the BBC, Schmidt defended the fact that Google paid corporation tax of 6 million pounds in 2011 despite recording annual revenues of 2.5 billion pounds in Britain.
According to the Guardian, he pointed to the support that the company gives to startup businesses.
He stressed that Google empowers literally billions of pounds of startups through its advertising network and so forth.
Google is a key part of the electronic commerce expansion of Britain, which is driving a lot of economic growth for the country, he added.
According to the paper, Schmidt''s comments drew an angry response from a member of the parliamentary public accounts committee (PAC), who accused the company of treating tax payments as a "voluntary act".
First Published: Tuesday, April 23, 2013, 11:49