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The Core

Why We Are Here => Traffic => Topic started by: littleman on March 17, 2011, 08:33:29 PM

Title: Google saves over $1 Billion a year by using tax havens
Post by: littleman on March 17, 2011, 08:33:29 PM
From FreshAir:
http://www.npr.org/2011/03/17/134619750/how-offshore-tax-havens-save-companies-billions

"You have an Irish operating company out there selling ads - they actually have real employees in Dublin," he explains. "They make payments to a Dutch subsidiary with no employees, which in turn makes payments to a Bermuda-headquartered Irish company with no employees. And the result of all of this is that it all helps to cut about $3 billion in Google's income taxes in the last three years."
Title: Re: Google saves over $1 Billion a year by using tax havens
Post by: Rumbas on March 17, 2011, 10:37:23 PM
Smart, they got it made for sure.
Title: Re: Google saves over $1 Billion a year by using tax havens
Post by: agerhart on March 17, 2011, 10:59:40 PM
Uncle Sam isn't going to like that...nor will he like looking stupid in the media
Title: Re: Google saves over $1 Billion a year by using tax havens
Post by: anallawalla on March 28, 2011, 07:26:13 AM
Accountant's view on this (2009):
http://www.taxresearch.org.uk/Blog/2009/04/19/googles-tax/
QuoteRichard Murphy, the accountant who investigated Google's UK, Irish and American accounts for The Sunday Times, also found: Google avoided a further €135m (now £119m) in tax from Ireland during 2007. The search engine's Irish subsidiary is owned by one of two companies Google has set up in the tax haven of Bermuda. Several sets of Google's UK accounts were filed late, with one set of accounts outstanding by more than five months.
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