Monday 23 September 2019

Google paid €171m tax on €32bn sales

Google has announced record revenues of €32.2bn for 2017 in its Irish accounts, a rise of €5.9bn due to the scale at which it is cornering the advertising market. Stock photo: Reuters
Google has announced record revenues of €32.2bn for 2017 in its Irish accounts, a rise of €5.9bn due to the scale at which it is cornering the advertising market. Stock photo: Reuters
Adrian Weckler

Adrian Weckler

Google has announced record revenues of €32.2bn for 2017 in its Irish accounts, a rise of €5.9bn due to the scale at which it is cornering the advertising market.

However, it only paid €171m in tax here because its declared profit in Ireland was just €1.16bn out of €32.2bn in sales. The slim profit is a result of Google ascribing €21.9bn to 'administrative expenses', including business costs and cash paid to offshore accounts.

The figures show that between them, Google and Facebook are now obliterating all other online rivals for advertising, including media companies.

Irish Independent

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