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Alphabet Moved $19.2 Billion to Bermuda Shell Company

12:52 pm on Jan 3, 2018 (gmt 0)

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Not the only company doing this, of course. I don't doubt that governments around the world are looking at ways to close these loopholes so that the relevant tax is paid according to the location, which seems far more sensible, but not tax efficient.

Google uses two structures, known as a “Double Irish” and a “Dutch Sandwich,” to shield the majority of its international profits from taxation. The setup involves shifting revenue from one Irish subsidiary to a Dutch company with no employees, and then on to a Bermuda mailbox owned by another Ireland-registered company.
“We pay all of the taxes due and comply with the tax laws in every country we operate in around the world,” a Google spokesman said in a statement. “We remain committed to helping grow the online ecosystem.”