Google's 'Dutch Sandwich' Shielded 16 Billion Euros From Tax (bloomberg.com)

Google moved 15.9 billion euros ($19.2 billion) to a Bermuda shell company in 2016, saving at least $3.7 billion in taxes that year, regulatory filings in the Netherlands show. From a report: 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. The amount of money Google moved through this tax structure in 2016 was 7 percent higher than the year before, according to company filings with the Dutch Chamber of Commerce dated Dec. 22 and which were made available online Tuesday.

Comments

Re:Nice

[fluffernutter]

You're right, I would much rather everyone on my street make an individual trip to the garbage dump site rather than having those pesky garbage men around. It all seems too simple and organized, so it must be a conspiracy.

Re:How is this not fraud?

[johannesg]

The Netherlands gets a little bit of extra money from this, yes. Of course those billions do get added to our GNP, which means that any costs that are GNP-related (such as EU-membership, NATO membership, and third world aid) also go up immediately. I don't know how much Google is paying, but it's not impossible that this is a netto loss for the Netherlands.

Of course we gets lots of high tech jobs... Wait, what? Zero employees? Right, so that's pointless then.

Let Google pay the same on its income as I (Dutch person, living and working in the Netherlands) do. That's _52%_ income tax, for those interested... Corporations are people. Let them pay income tax like the rest of us.

Re:Euphemisms?

[HornWumpus]

You'll regret looking up _anything_ that you have to goto the urban dictionary to find.