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EU launches probe into UK tax scheme for multinationals

BRUSSELS: The EU on Thursday announced a major probe into a British scheme protecting multinationals from tax avoidance rules, in the latest move in the bloc's campaign to get international companies to pay their share. Europe's competition chief Margrethe Vestager will investigate whether certain exemptions allowed under British rules amount to a breach of European Union regulations against state aid. The EU has waged a major crackdown on member states bending rules to give big international firms unfair tax breaks in…

Multinationals hit by vast wave of cyberattacks

KIEV: Several multinational companies said on Tuesday they were targeted in a massive wave of cyberattacks which started in Russia and Ukraine before spreading to western Europe. Danish sea transport company Maersk, British advertising giant WPP and the French industrial group Saint-Gobain were among those who said they came under attack and put protection protocols in place to avoid data loss. The first reports of trouble came from Ukrainian banks, Kiev's main airport and Russia's Rosneft oil giant, in a major…

Google to pay £130 mn to Britain in back taxes

LONDON: Technology giant Google is to pay £130 million (172 million euros, $185.4 million) in back taxes to Britain following a government inquiry into its tax arrangements, a company spokeswoman said Friday.