Global giant Google has reached an agreement with the UK's tax authorities to pay £130m in back taxes.
A six year investigation into the company's accounting practices has led to the agreement. Google has agreed to change its accounting system so that a higher proportion of sales activity is registered in the UK, rather than Ireland – which has lower rates of corporation tax.
There have been criticisms about the relatively low figure agreed by the UK government. Additional reports suggest that Google will be forced to pay at least three times as much in back tax by the French Government.
Sources: BBC News; International Business Times; ITProPortal.