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Eric Schmidt defends Google tax affairs, saying firm was key to UK growth

Google's executive chairman Eric Schmidt has defended the internet giant's tax affairs, saying the firm was playing a key role in the UK's high-tech growth. The firm paid just £6m in corporation tax in 2011, but Schmidt said the arrangements "fully comply with the law" and it was acting in the same way as other firms.The tax arrangements of multinational firms including Google were heavily criticised by MPs in a scathing report earlier this year.The Public Accounts Committee accused Google, Starbucks and Amazon of "using the letter of tax laws both nationally and internationally to immorally minimise their tax obligations".

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UK: Google CEO defends company's tax affairs; firm was accused of "immorally" minimising tax obligations by Public Accounts Committee

UK corporate tax avoidance - 2012-2013