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Google saves billions in tax with 'Dutch sandwich'

Thursday 22 December 2016 | 14:34 CET | News
Google saved billions in taxes in 2015 through the use of a 'Dutch sandwich', a system of holding companies that allows the company to shift profits to Bermuda, where there is no corporate income tax, Bloomberg reports. The extent of the tax savings was disclosed in a filing by a Google subsidiary in the Netherlands with the Dutch Chamber of Commerce, reported first by local newspaper Het Financieele Dagblad. The Dutch subsidiary, Google Netherlands Holdings BV, has no employees. It recorded around EUR 14.9 billion in revenue in 2015, most of which came from Google Ireland Limited, which

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Categories: Internet
Companies: Alphabet / Google
Countries: Ireland / Netherlands / World
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