Hashtag: #GoogleTax
Google To End ‘Double Irish, Dutch Sandwich’
Google will no longer use an intellectual property licensing scheme, known as the ‘Double Irish, Dutch sandwich’, according to numerous international media reports. The Reuters report said, “Google parent Alphabet [GOOGL.O] will no longer use an intellectual property licensing scheme, known as the ‘Double Irish, Dutch sandwich,’... Read more of this article
Report: Google Shifted $19B To Bermuda
Google’s use of a Bermuda company is back in the news, with the internet giant reported to have “moved 15.9 billion euros [$19.2 billion] to a Bermuda shell company in 2016.” The Bloomberg story said, “Google uses two structures, known as a “Double Irish” and a “Dutch Sandwich,” to shield the majority of its international... Read more of this article
Report: Google Lowered 2015 Taxes By $3.6B
Internet giant Google ”saved $3.6 billion in worldwide taxes in 2015 by moving $15.5 billion to a Bermuda shell company,” according to a report by Bloomberg. The story said “Alphabet Inc.’s Google saved $3.6 billion in worldwide taxes in 2015 by moving 14.9 billion euros [$15.5 billion] to a Bermuda shell company, new regulatory filings... Read more of this article
Reports: Google’s “666″ Bermuda Post Box
Bermuda is being spotlighted in the UK media again today [Jan 31], with the Daily Mail and Sun both running stories about Google’s connection with Bermuda, with the Sun saying “its only presence is the tiny metal box bearing the number of the beast 666.” The Daily Mail article says, “Google has no office, no staff and little... Read more of this article
Report: Britain Complains About EU Blacklist
“Britain has complained to the European commission about an EU blacklist designed to hit tax havens, including Bermuda, describing it as ‘misleading and deeply unhelpful,” according to a report from the UK’s Observer newspaper. The report said, “Britain has been privately lobbying the EU to remove the tax haven through... Read more of this article
Video: Australian Senate Questions Tax Dealings
The Australian Senate Economic References Committe conducted hearings on corporate tax structure, with Google’s dealings in Bermuda being brought up at one stage of the proceedings. Yesterday [Apr 8], top executives from the Australian branches of Google and Apple appeared at the Australian senate inquiry into corporate tax avoidance, while Microsoft... Read more of this article
Google/Bermuda Connection In The News Again
Google’s use of a Bermuda subsidiary has hit the headlines again, with today’s [Sept 30] news that the internet powerhouse paid $55 million in UK tax last year following sales worth some $5.5 billion to British customers Reuters reports: “Google, which has been grilled twice in the past year by a UK parliamentary committee over its... Read more of this article
Cato Institute On Corporate Tax Avoidance
The Washington-based Cato Institute libertarian think tank this week [May 23] argued that corporate tax avoidance on the part of major multinational firms — including Google, which funnels British profits to a Bermuda entity — causes “no evident harm” to the budgets of the world’s leading industrialised countries. Politicians... Read more of this article
Google’s Schmidt On Bermuda Tax Arrangement
Google’s executive chairman Eric Schmidt yesterday [May 22] denied there was anything ”unethical” about the Internet search giant’s tax operations — which see most of its UK profits channelled to Bermuda — and argued it was up to governments to create unambiguous laws and regulations and for businesses to abide... Read more of this article
UK Labour Calls For Corporate Tax Reform
Britain’s Labour Party — tapping into mounting public discontent over corporate tax avoidance prompted in part by Google’s use of Ireland and the Netherlands to shift billions of dollars of earnings to Bermuda — wants the UK government to push for new international rules to force companies to report profit and tax payments country-by-country. British... Read more of this article
OECD: “Tax Havens Need To Be Neutralised”
International leaders are moving closer to taking action on corporate tax avoidance – prompted in part by Google’s use of use of Ireland and the Netherlands to shift billions of dollars of earnings to Bermuda — despite challenges, a top official at the Organisation for Economic Co-operation and Development [OECD] said on Wednesday... Read more of this article
Google On Tax Savings: “It’s Called Capitalism”
Google chairman Eric Schmidt has defended the company’s policies — which involve using a Bermuda shell company to save $2B in taxes — saying: “It’s called capitalism”. Mr Schmidt said: “We pay lots of taxes; we pay them in the legally prescribed ways. I am very proud of the structure that we set up. We did it... Read more of this article
Report: Google Avoid $2B Tax Using Company
Internet giant Google avoided about $2 billion in worldwide income taxes in 2011 by shifting $9.8 billion in revenues into a Bermuda shell company, Bloomberg reports. “By legally funneling profits from overseas subsidiaries into Bermuda, which doesn’t have a corporate income tax, Google cut its overall tax rate almost in half. The amount moved... Read more of this article
Premier To UK MP: “Bermuda Pays Its Own Bills”
Premier Paula Cox has issued a statement “to remind” a UK MP that Bermuda pays all of its own bills — including the bill for Bermuda’s Governor — after he criticized Bermuda’s tax policy and said “we are paying twice because we are paying for Bermuda.” The Independent reports that John Mann [pictured],... Read more of this article
IRS Probes Google’s Bermuda Tax Avoidance
The US Internal Revenue Service is auditing how Google Inc. avoided American federal income taxes by shifting profits to subsidiaries in Bermuda and other off-shore jurisdictions, Bloomberg is reporting today [Oct. 13]. The agency is bringing “more than typical scrutiny to how the company valued software rights and other intellectual property... Read more of this article
Google’s Bermuda Tax Avoidance “Unethical”
Google has become one of the worst global corporate citizens after deciding to funnel profits through Bermuda to avoid taxes rather than reinvesting in countries where it does business, says the former head of a British TV network. Luke Johnson, one of Britain’s best known businessman and the former chairman of that country’s Channel 4,... Read more of this article
