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  Topic: Google Revenues Sheltered
in No-Tax Bermuda
Soar to $10 Billion
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Google Revenues Sheltered
in No-Tax Bermuda
Soar to $10 Billion

Bloomberg, by Jesse Drucker

Original Article

Posted By:BaseballFan, 12/10/2012 12:05:17 PM

Google Inc. (GOOG) avoided about $2 billion in worldwide income taxes in 2011 by shifting $9.8 billion in revenues into a Bermuda shell company, almost double the total from three years before, filings show. By legally funneling profits from overseas subsidiaries into Bermuda, which doesn’t have a corporate income tax, Google cut its overall tax rate almost in half. (Snip) Last week, the European Union’s executive body, the European Commission, advised member states to create blacklists of tax havens and adopt anti-abuse rules.

Comments:
Ha! The government thieves want to whine about fairness?!? I´m no fan of google, but they´re not doing anything illegal.

  

Post Reply  

Reply 1 - Posted by: Namma, 12/10/2012 12:08:36 PM     (No. 9057785)

isnt the UN suppose to take over part of the internet soon...including google...or am I wrong about the takeover..oooppss I mean handover


Reply 2 - Posted by: djs, 12/10/2012 12:08:46 PM     (No. 9057786)

Big time supporter of BHO too.


   

 

  


 
Reply 3 - Posted by: nhchemist, 12/10/2012 12:20:17 PM     (No. 9057800)

This idea of taxation is soon to come to high tax states. Think NY, NJ and California taxing your assets, even though you retired to Florida or Texas. You cashed out, sold the house and took your assets with you. Since you were employed where taxes are high, you owe them for the privilege.


Reply 4 - Posted by: dipi, 12/10/2012 12:35:34 PM     (No. 9057823)

If the government doesn´t change the tax rules to close out all loopholes, no one should complain about it.
The ones responsible for this are the legislative and the executive branch who have been bought and paid for by the lobbyists.


Reply 5 - Posted by: Jethro bo, 12/10/2012 12:52:56 PM     (No. 9057856)

Well shazam! Imagine that. Kind of evil like all those companies paying dividends this year to avoid higher taxes next year.


Reply 6 - Posted by: JimS, 12/10/2012 12:54:31 PM     (No. 9057858)

What happened to "Don´t be Evil"?

Typical hypocritical liberals.


Reply 7 - Posted by: Northern Redman, 12/10/2012 1:13:42 PM     (No. 9057901)

Good for them! Anyone who can keep their money out of the hands of government has my support.


   

 

  


 
Reply 8 - Posted by: lazlototh, 12/10/2012 1:14:07 PM     (No. 9057902)

Accenture is a Bermuda corporation for this reason, and helps send jobs to developing countries. I have no idea how they are politically.


Reply 9 - Posted by: Nevadadad46, 12/10/2012 2:29:56 PM     (No. 9058036)

I guess that would be the same "Bermuda" shell company the Clintons, the Boehners and the Øbamas use?


Reply 10 - Posted by: mickturn, 12/10/2012 2:58:28 PM     (No. 9058090)

...and that is OK with Obie because they are Libs and support him.

We now see how this goes.


Reply 11 - Posted by: ColonialAmerican1623, 12/10/2012 11:58:14 PM     (No. 9058798)

Good for them.

Imagine how much we could rake in if we offered the same tax shelters.

Washington can´t see the forest for the trees.



Post Reply   Close thread 715081




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