`Google will pay more if British tax laws are changed`
London: Google executive chairman Eric Schmidt has said the company will pay more tax if the British tax laws are changed, and added that it does not treat paying taxes as optional but mandatory.
Google has been criticized for allegedly evading taxes revealing payments of 3.4 million pounds in tax on 3.2billion pounds of sales to customers in Britain last year, with sales technically accounting for under the low-tax regime of Ireland.
According to Tan English newspaper, Schmidt continued to defend the company`s tax payments and said that he was perplexed with the debates surrounding the issues as the company has been paying taxing as per law.
He said if the British government wants to have more taxes, it should change its law. Adding that the company had a fiduciary responsibility to its shareholders, which prevented it from paying more taxes abroad.
Schmidt suggested that it is the political decision of the government to settle on tax limits. If the taxes go up, the company will pay more, if they are low the company will pay less.
The executive chairman added that under American Law Google has fiduciary responsibility to its shareholders to properly account for things.
If the company randomly decides to pay taxes differently it would be held accountable by its shareholders in other countries, the report added.
More from India
More from World
More from Sports
More from Entertaiment
- Sheena was Indrani’s daughter from her previous marriage, not sister
- How justified is the violence in Gujarat over quota row?-Part 2
- Gujarat quota stir: Exclusive interview with Hardik Patel
- Gujarat quota stir: PM Modi appeals for peace
- Sheena Bora murder mystery: Eight questions which need to be answered
- I know why Indrani Mukherjea murdered my sister Sheena: Mikhail Bora
- Sheena Bora murder case: All that we know about Indrani Mukherjea
- Pregnant teen buried alive, wakes up in coffin
- Sheena Bora murder case: Indrani Mukherjea's former husband, Sanjeev Khanna, arrested by Mumbai Police
- 3rd Test: India vs Sri Lanka 2015 - Preview