“On Thursday, a U.K. parliamentary committee said that Google Inc. has aggressively avoided paying corporate taxes in Britain, and criticized the U.K. tax authority for failing to challenge the Internet giant about its tax arrangement. Late last month, U.S. lawmakers blasted Apple for failing to pay U.S. taxes on billions of dollars in overseas income.  Google said that it complies with all U.K. tax rules, and Apple’s CEO Tim Cook told senators that his company pays all the taxes it owes.  The problem for companies like Apple is the U.S.’s tax system. Cook made it plain that the 35% corporate rate is too high to bring some profits back from overseas.”

http://blogs.marketwatch.com/election/2013/06/14/political-push-seen-by-g8-for-clamping-down-on-tax-avoidance/

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