Do you know Google moved 16 bn euros to Bermuda to avoid tax: Bloomberg. - Technopweb

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Do you know Google moved 16 bn euros to Bermuda to avoid tax: Bloomberg.

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Google transferred $ 15.9 billion (19.2 billion dollars) to a Bermuda Shell company in 2016, saving millions of dollars in taxes that year, 
Bloomberg reported citing regulatory filings in the Netherlands.In Bloomberg's report, Google uses two structures called "double Irish" and a "Dutch sandwich" to protect its multinational profits from Karma."This setup involves transferring revenue with an Irish subsidiary without having an employee of an Irish subsidiary, and then on another Bermuda Mailbox owned by another Ireland-registered company," it said.According to the filing of the company with the Dutch Chamber of Commerce on December 22, the amount of passage through this tax structure in 2016 was seven percent more than the year before and made available online on Tuesday.In a statement, Bloomberg said in a statement, "We pay all taxes and tax laws in every country follow the laws of the country."According to American Financial Reporting, Google's global effective tax rate in 2016 was 19.3 percent, which it gets after transferring its international profit to a Bermuda-based entity, the news agency released.ZINC adsApplying that tax rate, Google will have saved $ 3.7 billion through the transfer of 2016, it will calculateDespite the worst of the debt crisis, in the years of the public treasury, EU leaders have agreed to deal with the question of how to tax the internet giants, French President Immanuel Macron said the likes of Google, Facebook and Apple "Modern World's FreeLoders".Today's tax rules were drawn up when multinationals developed real assets and operations in different countries, making it relatively clear that when taxes were paid.But US Tech Teutons are almost exclusively present in the virtual world, their services were delivered through the app through smart phones and designers and data servers from the oceans to tablets.According to EU tax rules, they choose to report income in one European country with lower tax rates, they are deprived of millions if not 100 million in tax revenues.

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