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Thursday, January 4, 2018

Google transfers billions to Bermuda

According to the Bloomberg news site, Google has reportedly transferred about 16 billion euros to Bermuda to pay less taxes in Europe.

We must believe that life is expensive in the Californian town of Mountain View, because Google deploys a lot of energy to grow his wool stockings by avoiding the best to pay taxes in countries where it is present. According to the news site Bloomberg, Alphabet - the parent company of Google - would have managed to put 16 billion euros aside through tax breaks.

Bloomberg says Google has managed to protect its international profits from taxes through the tax evasion schemes known as Double Irish and Sandwich Hollandais. Specifically, the move is to "transfer income from an Irish subsidiary to a Dutch company without employees and then to a Bermuda mailbox owned by another company registered in Ireland". By transferring its 16 billion euros to Bermuda, Google would have achieved a nice savings on its taxes. Bloomberg also reports that revenues transferred to Bermuda in 2016 were 7% higher than in the previous year.

"We pay all the taxes and we comply with the tax laws in all the countries where we operate in the world," commented a spokesman for Google Bloomberg. A statement that must have coughed the European and US tax administrations. At the end of 2016, Google had nearly $ 60.7 billion declared abroad and on which the United States demanded a tax, still unpaid. More recently, the Paris Administrative Court canceled a tax adjustment of 1.15 billion euros, which led to a deal behind the scenes between France and Google, as was also the case in Italy and the United Kingdom. United.

Even though Ireland has bridged the legal loophole allowing a company to take advantage of the Double Irish's trick, the companies that used it will still be able to enjoy it until 2020. In short, Google has two more years to put next to...

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