Wednesday, January 3, 2018

Google’s Shielded 16 Billion Euros From Tax Overseas

I wonder what would happen if a regular person tried pulling this crap. I'm guessing jail...but I could be wrong.

Alphabet Inc.’s Google moved 15.9 billion euros ($19.2 billion) to a Bermuda shell company in 2016, regulatory filings in the Netherlands show -- saving the company billions of dollars in taxes that year. 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.