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General

Google royalty payments to Bermuda double in three years

Monday 14 October 2013 | 09:48 CET | News
Google transferred royal payments worth EUR 8.8 billion to Bermuda to reduce its taxes in 2012, a quarter more than in 2011 and 100 percent more than in 2009, reports the Financial Times. Bermuda applies an around 5 percent tax rate, less than half of the already low tax rate in Ireland, where Google books most international sales. The figures were revealed in one of the company's Dutch subsidiaries when it filed last. Google's non-US IP is held in the Netherlands.

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Categories: General
Companies: Google
Countries: Bermuda / World
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