Google denies dodging tax on Australian profits

THE tech giant has denied paying less than $500,000 in tax in Australia, despite almost doubling its profits to $46.5 million.

Reports suggest Google will pay just $500,000 tax in Australia after deductions from thei

GOOGLE has denied paying just under $500,000 in tax in Australia, despite almost doubling its profits to $46.5 million.

Fairfax Media has reported the Tax Office issued the international company with a $7.1 million tax bill for the year ending December 31, but that after deductions, the final bill was $466,802.

Google, which employs 900 people in Australia, on Friday said this was incorrect.

“We paid $7.1 million in corporate taxes and $15 million in payroll and other taxes in Australia,” a spokesperson said in a statement, adding that this was after deductions.

It’s not known if Google is one of three multinational tech companies being audited by the Australian Tax Office, on suspicion of shifting profits overseas, Fairfax said in a report.

A spokesman for the Tax Justice Network, Mark Zirnsak, says more action is needed on companies operating in the digital economy to ensure they pay their fair share of tax.