93% Google stockholders vote against 'moral tax' resolution
By Ameya Kunte On May 23 2014
In my last week's blog on "Shareholder activism raises bar in "moral tax" debate", I wrote about resolution proposed in Google annual general meeting (AGM). A group of shareholders had requested Google's Board of Directors to adopt a set of principles to address the impact of Google’s tax strategies on the society, with particular focus on Google’s employees, customers and suppliers.
During the AGM held on May 14th, 93% of the Google's stockholders voted against the resolution. The Board too had recommended voting against the resolution. Click here to watch the webcast on proceedings at AGM, especially the portion between 17 - 20 minutes dealing with tax policy principles resolution.
While the final result is on the expected lines, the discussion & issues raised in the resolution are worth evaluating in coming years, especially in light of OECD BEPS project.