Hashtag: #GoogleTax
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
Hightower Lambasts Google’s Bermuda Move
Bermuda earned a mention in today’s [Nov.18] syndicated column by outspoken American political and social commentator Jim Hightower – but it’s not the sort of publicity the island relishes. In a piece headlined “Corporate Flimflammers in Our Communities and Congress”, Hightower rails against Internet giant Google’s decision... Read more of this article
