Tax Tips for Every Man from the GOOG
October 14, 2011
Interesting tax tip and a great quote. I noted the information in “IRS Auditing How Google Shifted Profits Offshore to Avoid Taxes.” I am no tax man. I am a taxed man. I am on the look out for tips. So here’s the tax tip for every man:
Google, owner of the world’s most popular search engine, has cut its worldwide tax bill by about $1 billion a year using a pair of strategies called the “Double Irish” and “Dutch Sandwich,” which move profits through units in Ireland, the Netherlands and Bermuda. Google reported an effective tax rate of 18.8 percent in the second quarter, less than half the average combined U.S. and state statutory rate of 39.2 percent.
And the quote. Not as good as “We’re from the government and we are here to help you. Just darn close:
“This is a routine inquiry,” said Jim Prosser, a spokesman for Mountain View, California-based Google.
Yep, routine. Nothing better to do.
Stephen E Arnold, October 14, 2011
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