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Google Shifted $23 Billion To Tax Haven Bermuda in 2017, Filing Shows (reuters.com)
schwit1 shares a report: Google moved 19.9 billion euros ($22.7 billion) through a Dutch shell company to Bermuda in 2017, as part of an arrangement that allows it to reduce its foreign tax bill, according to documents filed at the Dutch Chamber of Commerce. The amount channeled through Google Netherlands Holdings BV was around 4 billion euros more than in 2016, the documents, filed on Dec. 21, showed. For more than a decade the arrangement has allowed Google owner Alphabet to enjoy an effective tax rate in the single digits on its non-U.S. profits, around a quarter the average tax rate in its overseas markets. The subsidiary in the Netherlands is used to shift revenue from royalties earned outside the United States to Google Ireland Holdings, an affiliate based in Bermuda, where companies pay no income tax.
Yay, corporate fraud is Presidential behavior! NOBEL! NOBEL! Google 2020, cheat those taxes and make Mexico pay for it!
Well, given the standard Obama set, Trump had nowhere to go but up.
Trump at least has started North Korea talking seriously with its neighbors. Given the standards of Obama's Nobel-for-nothing, that should pretty much ensure Trump wins the Nobel Peace Prize for just about the next century or so.
As for who gets to pay for the wall? Well, that hasn't been settled yet.
But speaking of Google (and Apple, for that matter...), did you notice that the FCC has shut down with the 1/4 of the government that isn't funded (and 99% of voters don't give a flying fuck about - "Awww, gee, you mean there are no IRS auditors! That's TERRIBLE!!!"...), which means no new 5G phones getting FCC approval this year? Google and Apple want to pick political sides and fund "progressive" political causes? Well, now they're getting horse fucked. Gee, and Apple stock has already started to tank. How long will those shareholders go with the "be woke, go broke" theme? (ESPN caved to reality and shitcanned all their SJW "reporters", in case you missed it. FWIW, Jamelle Hill will not be missed.)
I wonder how long Google and Apple will let the Democrats representatives in their pockets hold up funding for Trump's wall, given that without things like the FCC getting funded Google and Apple won't have any shiny new toys to sell this year - and lose billions and billions of dollars of revenue...
Call me when Trump pays billions of dollars to bribe medieval fanatics bent on getting nuclear weapons based on the mere promise from those same nutjobs that they'll pass on getting nuclear weapons. Yeah, I know, it was a pinkie promise, so it's all good, right?
Tax dodging. Define it as incorporating (directly or indirectly via a parent/holding/etc. corporation) in a nation in which the CxOs, board members, etc. and their immediate families do not physically reside for at least 51% of the year or in which they do not claim citizenship
No matter how smart you are in thinking you can close up the loopholes there are armies of accountants and lawyers who are WAAAY smarter and can figure out a way around it.
Meet Joe Islander. He has lived on the island his entire life where he is an aspiring surfer. He is our new CEO and his salary is a company-paid-for beachside house and fishing boat. Please address all high level corporate decision making to our former CEO and new executive ultra president Mr Big back in New York.
Etc, etc.
It's time for President Trump to get out his trust-busting stick. Break up Alphabet!
Android - separate company
Chrome - separate company
YouTube - separate company
Gmail - separate company
Search - separate company
Advertising - separate company
Maps - separate company
Arrest Sundar Pichai. Shut down the dangerous mad science projects. Arrest the nazi mad scientists. Shut down the wannabe-Skynet AI. Arrest those mad scientists too.
Break up Alphabet now! Stop Google before it's too late!