Browse content similar to 23/01/2016. Check below for episodes and series from the same categories and more!
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Good afternoon. The Shadow Chancellor, John McDonald | :00:20. | :00:27. | |
says that the ?130 million that Google agreed to pay in tax is | :00:28. | :00:31. | |
trivial, compared to what he believes that the company should | :00:32. | :00:35. | |
have paid. It follows an inquiry covering the past ten years. Google | :00:36. | :00:40. | |
says it wants to ensure it pays the right amount of tax. Here is our | :00:41. | :00:46. | |
Business Correspondent. It has almost a monopoly on internet | :00:47. | :00:51. | |
everyone is but the tax affairs also dominated Google's life. | :00:52. | :00:59. | |
Now it is completed a ?130 million deal to pay British Corporation Tax | :01:00. | :01:02. | |
dating back ten years. For some, though, it is not enough. | :01:03. | :01:08. | |
I have been campaigning on the issue for 15 years, pressing for action. | :01:09. | :01:12. | |
So this is too little too late. At least we have something but it looks | :01:13. | :01:17. | |
as though what independent assessors have said, this is paying about 3% | :01:18. | :01:23. | |
of tax. Most corporations are paying 20%. Ordinary individuals are paying | :01:24. | :01:27. | |
more. Most people will think it unfair. | :01:28. | :01:31. | |
Google enjoyed sales of ?4. 6 billion in the UK in 2014, under | :01:32. | :01:36. | |
normal circumstances companies would have paid 21% tax on profits. But | :01:37. | :01:42. | |
Google rules sales via Ireland and on to the Caribbean, so pays less | :01:43. | :01:48. | |
each year than the ?130 million tax deal to cover a decade of accounts. | :01:49. | :01:52. | |
Does Google accept it had been paying too little? We were applying | :01:53. | :01:58. | |
the rules as it were, that was then, now we are applying the new rules so | :01:59. | :02:04. | |
that is more tax. The Chancellor who introduced the | :02:05. | :02:10. | |
so-called Google tax, to clamp down on tax avoidance was satisfied with | :02:11. | :02:12. | |
the deal. When I was the Chancellor, there | :02:13. | :02:17. | |
were some paying little or no tax. We have taken action, now we have | :02:18. | :02:21. | |
companies paying tax. I want the message to go out that the taxes are | :02:22. | :02:26. | |
low but have to be paid. I expect more companies to follow suit. | :02:27. | :02:31. | |
The spotlight is on other large companies, such as Amazon and | :02:32. | :02:35. | |
Starbucks. Facebook paid ?4,000 on tax corporation last year, it may | :02:36. | :02:41. | |
take a while to close the book on creative tax arrangements. | :02:42. | :02:47. | |
Live now to Davos to Kamal Ahmed. Kamal, some say this is unfair and | :02:48. | :02:54. | |
peanuts? Well, certainly for Google, it is a company that makes billions | :02:55. | :03:01. | |
of pounds of profit each year. ?130 million is certainly not going to | :03:02. | :03:05. | |
put much of a dent in that. I think this is more of a debate about | :03:06. | :03:11. | |
global tax rules. Frankly, Google has not done anything illegal, nor | :03:12. | :03:15. | |
have any of the other companies that have had controversy about their tax | :03:16. | :03:19. | |
affairs, Amazon and Facebook. It really is up to the politicians to | :03:20. | :03:24. | |
change the rules, if they want to ensure that companies like Google, | :03:25. | :03:29. | |
like Facebook, like Amazon, like Starbucks pay more tax in the UK. | :03:30. | :03:36. | |
Google certainly believes, and HMRC, the tax authority, say that they are | :03:37. | :03:40. | |
correct, that they pay the correct amount of tax given the present tax | :03:41. | :03:44. | |
rules. This is an American business paying the majority of its tax in | :03:45. | :03:50. | |
America. Not in the UK. So it is up to the politicians to make changes | :03:51. | :03:55. | |
there. John McDonald, the Shadow Chancellor is asking for details to | :03:56. | :03:58. | |
be published. I spoke to George Osborne, he does not want it to | :03:59. | :04:03. | |
happen. Saying that confident shalt of tax affairs is an important | :04:04. | :04:07. | |
principle. Three people in Britain have been | :04:08. | :04:15. | |
diagnosed with the mosquito borne virus, Zika, linked to a rise in | :04:16. | :04:21. | |
birth defects in Brazil. Authorities have travelled to | :04:22. | :04:27. | |
several areas but pregnant mothers are being advised not to travel to | :04:28. | :04:30. | |
countries where this is reported. are being advised not to travel to | :04:31. | :04:34. | |
Four people have been killed in a shooting in Canada. The attack took | :04:35. | :04:41. | |
place at La Loche Community School. It has about 900 students. A man has | :04:42. | :04:47. | |
been arred and questioned. A call for BT, backed by a | :04:48. | :04:54. | |
cross-party grouch of MPs, a report suggesting that open reach fails to | :04:55. | :04:58. | |
deliver fast broadband to many areas. BT say that the criticisms | :04:59. | :05:06. | |
are misleading. A woman in Worcester claims that she had the lottery | :05:07. | :05:12. | |
ticket for the ?33 million jackpot, although put it in the washing | :05:13. | :05:17. | |
machine. The woman has sent it to Camelot in the hopes she can claim | :05:18. | :05:21. | |
the money. A large blizzard has been piling | :05:22. | :05:26. | |
snow into the American East Coast. People have been warned to find a | :05:27. | :05:30. | |
safe place and stay there until the storm has passed. The BBC's Laura | :05:31. | :05:37. | |
Bicker is in Washington for us now. It looks like a winter wonderland, | :05:38. | :05:42. | |
Laura? They are expecting that two feet of snow could have fallen by | :05:43. | :05:47. | |
the end of the day. Overnight we have about seven inches here in | :05:48. | :05:51. | |
Washington. You can see the state of the road behind me. This is downtown | :05:52. | :05:58. | |
DC, travel is almost impossible. Public transport is at a stand | :05:59. | :06:02. | |
still. The Metro is closed for the weekend, thousands of flights have | :06:03. | :06:06. | |
been cancelled. Passengers have been stranded at airports. They had to | :06:07. | :06:11. | |
open emergency shelters on the side of motorways in Kentucky for | :06:12. | :06:16. | |
stranded motorists. The advice has always been to get to a safe place | :06:17. | :06:20. | |
and stay there if you can for the duration of this storm. We are 12 | :06:21. | :06:24. | |
hours in. They are expecting it to last for at least 12 hours more. | :06:25. | :06:29. | |
They are not sure yet whether or not this will be a record-breaker but it | :06:30. | :06:32. | |
certainly could be up there as one of the top worst storms ever to hit | :06:33. | :06:37. | |
the nation's capital. Thank you very much, Laura Bicker in | :06:38. | :06:40. | |
Washington for us. There is more on today's stories on | :06:41. | :06:44. | |
the BBC News Channel, the next news on BBC One is at 5.45pm. Goodbye for | :06:45. | :06:47. | |
now. Good afternoon, after a cold and a | :06:48. | :07:03. | |
frosty week the temperatures are on the rise. | :07:04. | :07:07. |