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Google Chief Defends Its UK Tax Bill

Executive chairman, Eric Schmidt, has defended the Internet search giant's tax avoidance policies in the UK and said the company fully complies with the law. During an interview with the BBC, Schmidt defended the fact that Google paid corporation tax of just £6 million in 2011, even though the company generated annual revenues of £2.5 billion in the UK. Schmidt said his firm invested heavily in the UK and its services boost the economy.

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