But the Public Accounts Committee said Wednesday it is not possible to say whether the deal was fair to taxpayers.
The assessment came after the committee grilled the head of the company's European operations, Matt Brittin earlier this month. The heated session tapped into public anger over multinational corporations that operate in Britain but have tax bases elsewhere. Britain is revising its international tax rules.
The committee says UK tax authorities should "lead the way" in pressing for international tax changes to "prevent aggressive avoidance," by multinational companies.
It urged tax authorities to re-open the investigation if "relevant new evidence becomes available."