Tech

Google paid UK workers an average of £200,000

Tech giant Google has revealed that it paid its UK workers over £200,000 on average last year, up from £183,000 the year before.

According to financial reports filed last week, the Silicon Valley company paid out a total of £656.8m among its 3,280 UK-based employees last tax year. The amount includes salaries, share-based bonuses, pensions and social security payments throughout the financial year.

Read more: Google to pay nearly £50m to the Treasury as EU mulls new tax plans

The companys financial report also stated that its directors earned £189,207 last year. However, the salary of Matt Brittin, head of Googles European division, was not disclosed.

The companys filings also report £1.27bn in revenue last year, and a pre-tax profit of £201m. Thats a 34 per cent increase from the £149m profit it made the year before. The companys corporate taxes nearly doubled, jumping from £25m in 2016 to £47m in 2017.

Read more: Dear London, wheres our Google?

Google could be facing a much more significant tax hike in the year to come, as the government seeks to amend the way it taxes the digital economy. Following Brussels lead to create a digital tax plan aimed at giants like Apple, Google and Facebook, the British government launched a consultation to examine its own options for digital taxation.

The EU proposal would target those companies making over €7m (£6.1m) in annual worldwide revenues, and digital revenues in the EU of at least €10m. In its position paper for a UK equivalent, the British government outlined several possibilities for a revenue-based tax, although no measure has as yet been implemented.

Original Article

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