The latest example of this is the tax deal between Google and Her Majesty’s Revenue and Customs (HMRC) which enabled the company to extinguish a decade of its tax liabilities with a single payment of £130m, an effective tax rate of 3 per cent on its profits.
Shouldn’t we hold an accounting professor to higher standards of evidence than that?
Prem Sikka is Professor of accounting at the University of Essex
The £130 million was in addition to tax already paid, is at the statutory rate for the jurisdiction under discussion, not 3%.
Sikka is counting stuff not UK profits as UK profits in defiance of the law. Just because, you know, he’s making shit up.