Alphabet Inc. (NASDAQ:GOOG) paid just £67 million in UK corporation tax last year while it enjoyed revenues of £1.41 billion
The revelations have triggered calls for the UK’s tax system to be simplified in order to reduce their exploitation.
They come as the Treasury considers a new digital levy designed to boost the amount that Silicon Valley companies such as Google pay into its coffers.
Newly published accounts from Google’s UK arm show that the search company’s revenues climbed £1.41 billion in the year to June 2018, thanks to a £142 million year-on-year increase in marketing and research fees.
The firm’s latest tax bill was £66.8 million – paid on pre-tax profit of £246 million.
If lucrative advertising sales that are booked overseas had been factored in too, the revenue and tax tallies would have been much higher.
A Google spokesman said: “As an international business, we pay the majority of our taxes in our home country, as well as all the taxes due in the UK. We are investing significantly in the UK, including starting work on new offices in Kings Cross for 7,000 staff.”
Global tech firms have been repeatedly slammed for how little tax they pay.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 1,251.44.
The projected lower bound is: 1,165.81.
The projected closing price is: 1,208.63.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 86.1991. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 2 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 61.75. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 8 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 70. This is not a topping or bottoming area. The last signal was a buy 2 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 6 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed up 5.430 at 1,205.920. Volume was 38% below average (neutral) and Bollinger Bands were 13% narrower than normal.
Open High Low Close Volume___
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1,193.03 1,142.22 1,131.83
Volatility: 20 24 32
Volume: 1,309,751 1,445,285 1,620,831
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
ALPHABET INC C is currently 6.5% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of GOOG.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on GOOG.O and have had this outlook for the last 22 periods.
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