UK lost out on £2bn in tax in 2021 as big tech shifted profits abroad, claim campaigners

The UK might have missed out on as much as £2bn in tax in 2021 from big tech companies shifting their profits elsewhere, according to an estimate by a group campaigning for greater tax transparency. Seven of the biggest US-headquartered tech companies, including Apple, Microsoft and Google owner Alphabet, are estimated to have paid £750m in UK corporation tax and the digital sales tax, compared with £2.8bn in estimated tax due had profits not been routed elsewhere, according to TaxWatch, a campaign group. Read more.

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