“U.K. Treasury chief George Osborne has put global tech companies on notice: Pay your taxes, or else,” Lisa Fleisher reports for The Wall Street Journal. “‘Some technology companies go to extraordinary lengths to pay little or no tax here,’ Mr. Osborne said at his party’s annual event. ‘If you abuse our tax system, you abuse the trust of the British people. And my message to those companies is clear: we will put a stop to it,’ he said.”

“Mr. Osborne, speaking at his Conservative party’s annual conference in Birmingham, England, said the Treasury expects to raise hundreds of millions of pounds by cracking down this fall on companies that avoid paying tax on profits in the U.K. by shifting profits internally across national borders,” Fleisher reports. “These types of transactions can be difficult to spot and evaluate. At times, one part of a company might pay another part of the same company for goods or services. The difficulty comes in making sure those prices are the same as would be fetched on an open, competitive market. The Conservative party said it would try to better implement international tax rules that help determine prices of those internal transactions.”

Read more in the full article here.

Related articles:
Irish taxes: There is no possibility of a fine upon Apple whatsoever – September 29, 2014
EU watchdog to give reasons for inquiry into Ireland’s tax treatment of Apple – September 29, 2014
European Commission accuses Apple of prospering from illegal Irish tax deals – September 28, 2014
EU threatens expanded probe into Ireland’s tax practices regarding Apple, Googles, other companies – June 20, 2014
EU’s investigation of Apple’s taxes isn’t going to cause the company any problems – June 13, 2014
EU launches tax avoidance investigations on Apple, Starbucks, Fiat – June 11, 2014
Not in Taxes anymore: On site at Apple’s famous Irish ‘headquarters’ – November 2, 2013
Regan: U.S. tax code spurs loveless foreign corporate ‘marriages’ – May 13, 2014
Ireland to close Apple’s tax loophole, but leave bigger one open – October 15, 2013
G20 think tank OECD proposes blueprint for global crackdown on tax avoidance – July 19, 2013
Thomas Sowell on Apple, corporate taxes, and ‘the road to serfdom’ – May 28, 2013
Taxing Apple just taxes you – May 24, 2013
Don’t tax Apple, tax its shareholders – May 24, 2013
If Apple paid more tax, we might pay less or something – May 22, 2013
Apple CEO Tim Cook pounds another nail into the Keynesian coffin – May 22, 2013
Apple CEO Cook makes no apology for company’s tax strategy – May 22, 2013