«Breaking News» Google shifted $23billion to tax haven in Bermuda in 2017

Google moved a whopping $22.7billion to a tax haven in Bermuda in 2017 to avoid paying foreign taxes, a new report reveals. 

The move was made through a Dutch shell company called Google Netherlands Holdings BV, according to documents filed at the Dutch Chamber of Commerce.   

The amount filed through was $4.5billion more than the amount in 2016. 

Google employed an international tax evasion strategy known as 'Double Irish, Dutch Sandwich' that legally allowed companies channel their profits through an Irish company than through a Dutch one, then to another Irish subsidiary based in a place with no income taxes like Bermuda.

In 2017, Google moved $22.7billion to a tax haven in Bermuda to avoid paying taxes

The Dutch subsidiary moved the company's royalities earned outside the U.S. to Google Ireland Holdings, an affiliate which is based in Bermuda, where companies pay no income tax. 

The move allows Google to avoid paying U.S. income taxes and European withholding taxes on funds.  

Google Netherlands Holdings BV paid $3.8million in taxes in the Netherlands in 2017, the documents showed, on a gross profit of 15.5 million.

'We’ve paid a global effective tax rate of 26 percent over the last ten years. All foreign profits, including 2017 and prior, regardless of where they’re held, are subject to corporate tax in the United States,' Google said in a statement to Fox Business. 

Apple is another major tech company to also make the tax haven move to trim taxes. 

However by 2020, it may be impossible to do so.  

Under pressure from the European Union and the United States, Ireland in 2014 decided to phase out the arrangement, ending Google's tax advantages in 2020. 

The U.S. also lowered its corporate tax rate to 21 percent through the Tax Cuts and Jobs Act to try and prevent companies like Google from shifting profits overseas.

In June a total of 949 non-financial companies held $1.8trillion overseas.   

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https://hienalouca.com/2019/01/04/google-shifted-23billion-to-tax-haven-in-bermuda-in-2017/
Main photo article Google moved a whopping $22.7billion to a tax haven in Bermuda in 2017 to avoid paying foreign taxes, a new report reveals. 
The move was made through a Dutch shell company called Google Netherlands Holdings BV, according to documents filed at the Dutch Chamber of Commerce.   
The amount filed th...

It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.

Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.

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