Google's tax advantage

So it generates Worldwide revenue of £ 20 billion, almost all of it from advertising; and enjoys sales increases of 18% Y on Y in the UK, which accounts for 11% of its turnover, and is second only in size to the USA.

Yet Google UK Ltd is reported to be running at a loss and has only paid £ 8.2 million in UK corporation tax in the last 5 years, according to an Evening Standard investigation reported by Gideon Spanier last May.

Compare this to Goldman Sachs in London, with 2010 UK revenues just over twice Google's size, who paid £ 285 million in corporation tax last year alone.

It's all legal apparently, but is it fair?