Amidst various charges slammed against it by the European Union, Google CEO Sundar Pichai has defended the company, warning of the potential fallout from the exit of Britain from the EU.
Speaking on current tax issues being faced by Google in some European countries such as France and Spain, Pichai said that while his company respected tax laws, governments need to do more to guarantee “better results”—emphasizing that Google invested “very heavily” in Europe where it employed 14,000 people.
The European Union has been throwing the books at Google in the last couple of years—especially accusing the company of unfair dominance as regards some of its products. Last week, Google was slammed with more charges as the EU slammed more charges as regards AdWords and AdSense.
Speaking to Germany’s Welt am Sonntag newspaper on some of the tax charges brought against the company, Pichai said “As a global company, we find ourselves between the conflicting priorities of international tax law.
“Based on the structure of existing tax law, most companies pay the bulk of their taxes in their home countries.” He said his company had not violated any law in the books; short of advising governments to take proper action if they wanted to ensure more revenues remained at home, per The Daily Mail.
On Brexit (Britain’s recently concluded referendum to exit the European Union), the Google CEO said it was important for Google to operate in a “unified digital market” in Europe. Pichai said it was a “challenge” for a multinational company “to come to terms with different laws and regulations in each country.”
“This complexity makes greater engagement difficult, which also plays out in investment,” the Google CEO; adding that Brexit won’t pose much of a problem to large companies who were better able to deal with such issues than the smaller ones.
Full Content: Social Barrel
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI