Finance transparency advocate Eric LeCompte on Google’s Europe tax issues

Global Business

Google may face more pressure from Europe’s anti-trust regulator. The EU says it’s considering a probe for back taxes with the U.K of the a recent deal made by the company that was around 186 million dollars.

CCTV America’s Rachelle Akuffo spoke to Eric LeCompte. He works with institutions that try for greater financial transparency, including the Financial Accountability and Corporate Transparency (FACT) Coalition. LeCompte serves on the executive board of FACT.

Finance transparency advocate Eric LeCompte on Google's Europe tax issues

Finance transparency advocate Eric LeCompte on Google's Europe tax issues

Google may face more pressure from Europe's anti-trust regulator. The EU says it's considering a probe for back taxes with the U.K of the a recent deal made by the company that was around 186 million dollars. CCTV America's Rachelle Akuffo spoke to Eric LeCompte. He works with institutions that try for greater financial transparency, including the Financial Accountability and Corporate Transparency (FACT) Coalition. LeCompte serves on the executive board of FACT.

The regulator also shrugged off U.S. criticism of its crackdown on the company.

Some British lawmakers asked how Google came to pay such low taxes when it made more than 10 billion dollars in the last decade.

The U.K.’s finance minister defended the move. Some reports estimate Google has avoided more than two billion dollars in U.K. taxes since 2005.

The deal basically gave the search engine giant a tax rate of nearly 3 percent. The U.K.’s corporate tax rate is 20 percent.