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How Google Avoided Paying $60 Billion In Taxes

Posted by CmdrTaco on from the just-not-good dept.

bonch writes "Google only pays a 2.4% tax rate using money-funneling techniques known as the 'Double Irish' and the 'Dutch Sandwich,' even though the US corporate income tax is 35%. By using Irish loopholes, money is transferred legally between subsidiaries and ends up in island sanctuaries that have no income tax, giving Google the lowest tax rate amongst its technology peers. Facebook is planning to use the same strategy."

1 of 1,193 comments (clear)

  1. So? by JesseL · · Score: 1, Redundant

    Apparently this is legal, so why should I care? It's not as if the government is going to do better things with that money than Google is.

    --
    "Prefiero morir de pie que vivir siempre arrodillado!"