Home »Taxation » World » Google moved 16 billion euros to Bermuda to avoid tax: Bloomberg

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  • Jan 4th, 2018
  • Comments Off on Google moved 16 billion euros to Bermuda to avoid tax: Bloomberg
Google moved 15.9 billion euros ($19.2 billion) to a Bermuda shell company in 2016, saving it billions of dollars in taxes that year, Bloomberg reported on Wednesday, quoting regulatory filings in the Netherlands. Google uses two structures, known as a "Double Irish" and a "Dutch Sandwich", to shield the majority of its international profits from taxation, Bloomberg reported. "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," it said.

Copyright Agence France-Presse, 2018


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