Google moved $23 BILLION to Bermuda in 2017 as part of tax avoidance schemes in the US, the UK and the EU, labeled a 'Double Irish, Dutch Sandwich', new filings show
In 2017, Google moved $22.7billion to a tax haven in Bermuda
The tax evasion strategy is called a 'Double Irish, Dutch Sandwich'
It legally allows companies to channel profits through an Irish company then a Dutch one to a subsidiary based in a place with no income tax like Bermuda
However, the practice may be illegal by 2020 due to reforms by the U.S. and E.U.
Google Netherlands Holdings BV paid $3.8million in taxes in the Netherlands in 2017
Google moved a whopping $22.7billion to a tax haven in Bermuda in 2017 to avoid paying foreign taxes, a new report reveals.
The move was made through a Dutch shell company called Google Netherlands Holdings BV, according to documents filed at the Dutch Chamber of Commerce.
The amount filed through was $4.5billion more than the amount in 2016.
Google employed an international tax evasion strategy known as 'Double Irish, Dutch Sandwich' that legally allowed companies channel their profits through an Irish company than through a Dutch one, then to another Irish subsidiary based in a place with no income taxes like Bermuda
https://www.dailymail.co.uk/news/article-6555039/Google-shifted-23-bln-tax-haven-Bermuda-2017-filing.html