UK: rumours of Google tax

Reports suggest new measures will be revealed in budget.

According to reports in the Sunday Times, the UK is set to announce changes to tax rules in a bid to stop multinational companies avoiding UK tax.

The diverted profits tax will aim to stop companies routing profits generated in the UK abroad.  It is also reported that companies will be forced to disclose revenues and profits on a country-by-country basis.

Source: The Sunday Times.

Meanwhile, advisors to the French Prime Minister are recommending a similar move.