Everything is nothing, with a twist.
What is profits and what are revenue? #derp
Chris Smith at Techradar, from the same article (barely a sentence between each statement):
Google to pay just 1.5 per cent tax on UK earnings
Search giant will pay just £6m taxes on £395m turnover
That means, the search giant, which employs 1,300 people in the UK, will be paying a relative tax rate of 1.5 per cent for the year of 2011.
Google to pay just £6m UK tax on £395m profits
Google will pay tax of just £6million on turnover at its UK operation of £395m, the Telegraph can reveal.
The UK arm of the search giant will also report a loss after tax of £24.1million in accounts filed yesterday at Companies House. Much of this, however, is due to the £51.45 million cost of giving shares to employees. Excepting that, the firm reports a profit of just £27million.
I won’t take the time to point out what’s wrong - it’d be quite perverse of me to spend more time thinking about this than either author.
I wonder when will @flipboard start offering paid publishing channels to vendors, and how will they handle user subscriptions in Appleland