British Government Says 'Google Tax' Will Come Into Effect Next Month

England's Chancellor of the Exchequer George Osborne confirmed in Wednesday's Budget speech that the so-called "Google tax" will come into affect next month. Osborne used the final Budget before the general election in May to announce that the Diverted Profits Tax, which is "aimed at large multinationals who artificially shift their profits offshore", will be introduced from April 1st. Google, Starbucks and Amazon have all been attacked for the practice. Osborne also announced a broader crackdown on tax avoidance and evasion, which he promised would raise £3.1 billion, and a rise on the rate of bank levy to .021%, which he insisted would raise an additional £900 million per year.



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