Google Tax Tidbit
February 23, 2016
I have zero idea if the information in “Google Paid Just $3.1m EU Tax on $13 Billion Revenue: Report.” Tax time in the US is here. The 1099s are in flight and spring with its showers sweet is on its way. Spring makes me hungry for a Dutch sandwich.
The write up reports:
Search giant Google – now a subsidy of Alphabet Inc. – transferred around 11.7 billion euros ($13 billion) from its European operations to its accounts in Bermuda in 2014, in order to limit the tax burden on this income. This tax avoidance practice is often known as “Double Irish with a Dutch Sandwich,” and helps corporations avoid what they see as excessive tax rates in their home countries.
What caught my attention is the tax tactic which involves references to two countries and one sandwich.
Tasty if true. Perhaps the Dutch sandwich will be served when Google CEO Sundar Pichai will meet the European Union’s competition commissioner Margrethe Vestager in Brussels?
Stephen E Arnold, February 23, 2016
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