Over the last week, Google’s transnational profit shielding has come into focus with HMRC agreeing that they can settle up and agreed a sweetheart deal. It’s not popular, nor is it probably the most important. Amazon is probably a bigger problem for the real economy. I made a story on storify which I copied over in Jul 2020 and back dated to the date of it’s original publication.
This story, in reverse date order moves from the announcement of the agreement, the political response, on the whole negative, the EU & US responses, (looking at the US asymmetrical banking regulation and enforcement), a question time insurgency and the route to Bermuda &international tax haven regulation. It finishes with a piece by Evgney Morozov, who argues that the de-facto subsidy given to US software giants is killing jobs and wealth in the very jurisdictions that are behaving stupidly leniently.