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Google Ireland paid €28.6m tax on revenues of €18b in 2014

Google Ireland paid €28.6m tax on revenues of €18b in 2014

DUBLIN: Google Ireland said it paid €28.6m in Corporation Tax here last year, on a turnover of €18.3 billion.

The amount of tax paid was up by €900,000 compared to 2013, while turnover was up 8% from €17 billion the previous year.

The technology giant booked a profit after tax of €167.9m in 2014, up 9% compared to the previous year.

The company said the extra turnover was mostly driven by a growth in advertising revenue.

The figures are contained in the company’s annual financial statements for 2014 which have just been filed at the Companies Registration Office.

The firm’s cost of sales increased from €5.1 billion in 2013 to €5.6 billion last year.

Much of these costs were paid to a network of third party companies using Google’s products and its partners under revenue share arrangements in the advertising business.

During the period the company invested €73.9m in research, development and engineering here.

In April, Google also bought the Grand Mill Quay building on Barrow Street for €65.1m and the Dock Mill Building on Barrow Street for €13.9m.