Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

www.bloomberg.com

Google Inc. cut its taxes by $3.1 billion in the last three years using a technique that moves most of its foreign profits through Ireland and the Netherlands to Bermuda.

Google’s income shifting -- involving strategies known to lawyers as the “Double Irish” and the “Dutch Sandwich” -- helped reduce its overseas tax rate to 2.4 percent, the lowest of the top five U.S. technology companies by market capitalization, according to regulatory filings in six countries.

“It’s remarkable that Google’s effective rate is that low,” said Martin A. Sullivan, a tax economist who f

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Well of course making billions isn't enough, so they have to find loopholes in the system so they could save a couple of billions in paying a very low tax. This just makes me sick how they can do this and get away with it.

Welcome to a world owned by corporations, they can pretty much do what they feel like this days.

www.bloomberg.com
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G`day tax dodgers.

Sounds as if they are already paying billions in tax.

If orgs such as this were to pay what the Gov expects do you believe they would lower your personal income tax?.

I say hooray for loopholes,since I`m living in one of the highest taxing countries in the world and I dont see my monies worth.Not that I`m a dodger.