0
General

Google shifts USD 9.8 bln of revenue to Bermuda tax haven

Tuesday 11 December 2012 | 09:51 CET | News
Google avoided paying around USD 2 billion in income taxes worldwide in 2011 by shifting USD 9.8 billion of revenue from a Dutch subsidiary with no employees to a shell company based in Bermuda, Bloomberg reports, citing a November filing in the Netherlands. In 2008, Google transferred USD 5.4 billion from the Dutch subsidiary to Bermuda. By transferring money legally to Bermuda, where there is no corporate income tax, Google reduced its overall tax rate by almost half. The amount of profit moved to Bermuda represents around 80 percent of the company's 2011 total pretax profit. According to

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: General
Companies: Google
Countries: World
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Google mulls shutting down Bermuda subsidiary - report

Published 20 Oct 2014 10:01 CET | World
Google is considering shutting down its subsidiary in Bermuda to focus on its division in Ireland, where a 12.5 percent corporate ...

Google royalty payments to Bermuda double in three years

Published 14 Oct 2013 09:48 CET | Bermuda
Google transferred royal payments worth EUR 8.8 billion to Bermuda to reduce its taxes in 2012, a quarter more than in 2011 and ...

UK, Germany, France seek more taxes from web giants

Published 03 Dec 2012 11:05 CET | Europe
British, German and French ministers have been meeting in recent weeks to discuss how to prevent Internet companies such as ...

Google Italy investigated again by tax police

Published 29 Nov 2012 10:14 CET | Italy
Italian tax police launched an investigation into Google Italy to check if the company was meeting its fiscal obligations in ...

Google tax bill grows to EUR 1.7 bln with fines - report

Published 07 Nov 2012 08:55 CET | France
The French revenue service will ask Google to pay over EUR 1.7 billion in back taxes, reports Le Canard Enchaine. The satirical ...

Court rejects Google appeal over tax probe

Published 05 Nov 2012 08:53 CET | France
A Paris court of appeals has rejected Google's request to declare raids conducted by the French revenue services at its Parisian ...

France requests EUR 1 bln in Google back taxes - report

Published 31 Oct 2012 09:10 CET | France
The French revenue service has sent a recorded delivery letter to Google requesting EUR 1 billion for four years of tax ...

Google tax avoidance schemes come under scrutiny in UK

Published 13 Aug 2012 09:59 CET | United Kingdom
Google chiefs may have to explain themselves regarding their tax avoidance schemes to UK MPs, the Independent reported. A member ...





Calendar   /   Industry Events

27 Jan AT&T Q4 2020
27 Jan Corning Q4 2020
27 Jan Calix Q4 2020
27 Jan Facebook Q4 2020
27 Jan KPN Q4 2020
27 Jan Extreme Networks fiscal Q2
27 Jan MediaTek Q4 2020
27 Jan Uptime
28 Jan Rogers Communications Q4 2020
28 Jan Juniper Networks Q4 2020
28 Jan Comcast Q4 2020
28 Jan Crown Castle Q4 2020
28 Jan Skyworks fiscal Q1
28 Jan 8x8 fiscal Q3
28 Jan Samsung Electronics Q4 2020
29 Jan Airtel Africa Q4 2020
29 Jan Charter Communications Q4 2020
29 Jan Ericsson Q4 2020
29 Jan Telia Q4 2020
29 Jan NEC fiscal Q3
01 Feb NXP Semiconductors Q4 2020
01 Feb Harmonic Q4 2020
01 Feb On Semiconductor Q4
01 Feb Cirrus Logic Q3
02 Feb Viavi fiscal Q2
02 Feb Alphabet Q4 2020
02 Feb FireEye Q4 2020
02 Feb Telenor Q4 2020
02 Feb Vodacom fiscal Q3
02 Feb Tele2 Q4 2020
::: More Calendar Items