'It's called capitalism': Google boss says he is 'proud' of the company's multi-million pound tax avoidance schemeBy PETER CAMPBELL and AMANDA WILLIAMS
The Daily Mail
Dec. 13, 2012
1.Trump is Right: GOP Debate Audience is Packed Full of Republican Donors
2.Government Agents Hunt Woman Down After Seeing Facebook Picture Of Her Rehabilitating Baby Squirrels
3.Florida Cops Unload On Man Holding Gun Fearing Home Invasion After Knock On Door At 1AM, Had Wrong House
4.VIDEO: Americans Express Support When Told Obama Had 'Launched A Preemptive Nuclear Strike On Russia'
5.Mandatory Mental Illness Screening and The Drive to Confiscate Firearms
6.Three Reasons to Be Worried About The Economy
7.Miami Police Retaliate Against Female Driver Who Filmed Herself Pulling Over Cop
8.Trump On Debate Audience: "They Gave Me 20 Tickets"
The boss of Google last night said he was ‘very proud’ of the elaborate structure that helped the search giant slash more than £200million from its UK tax bill last year.
Taxpayers were left to fund the shortfall after Google contributed just £6million to government coffers – despite making sales of £2.6billion.
MPs on the influential Public Accounts Committee last month slammed the group’s methods as ‘immoral’.
But when asked about the arrangement which saw the group funnel billions of pounds to Bermuda, a renowned tax haven, the company’s chairman Eric Schmidt said: ‘It’s called capitalism.’