Monday, 13. December 2010
Topic: GOOGLE - on December 13, 2010 at 3:16:00 PM CET
Google slips $3.1bn through 'Double Irish' tax loophole
Google has saved $3.1bn in taxes since 2007 by shuttling its foreign profits through Ireland and the Netherlands, then on to a haven in Bermuda, according to the company's regulatory filings.
As reported by Bloomberg Businessweek, Google uses techniques known as "Double Irish" and "Dutch Sandwich" to lower its foreign tax rate to a scant 2.3 per cent. This is the lowest rate among the top five US tech giants, according to the report.
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