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Google, You Tricky Bastards!

October 21st, 2010 11:22pm Leave a comment

Gizmodo – The US corporate tax rate is 35%. Google, partially founded with taxpayer money and trading at $607 a share, pays 2.4%. How is this possible? Through an arsenal of offshore tax tricks with names like the “Dutch Sandwich.”

Google’s startlingly low rate—how much do you pay every year?—goes back to a deal brokered with the IRS itself. The feds let Google license its search and ad tech to a subsidiary in Ireland—Google Ireland Holdings—which begins a long, international cash siphon that ends in Bermuda. Licensing tech from Google racks up expenses, which allow Google’s dummy company to duck Irish tax law. The money generated in Ireland is shuttled to the Netherlands, which, because of EU law, further keeps government hands out of Google’s earnings. From here, revenue is paid to another subsidiary in Bermuda, where it becomes virtually invisible—under Irish law, this tropical tail end of this money snake isn’t required to disclose any financial documents.

Google cheats the government out of 3.1 billion dollars? Fuckin’ A Google! I love it. I just read the paragraph above. How tricky is that? I have no fucking clue what’s going on there. Money goes to this shell corporation, transferred to that country, gets send underground to this country. Jeez. Sounds like a plan. Fuck this socialist government and all its nonsensical spending – anyone who doesn’t pay tax is a hero in my book.

PS – I don’t know what a Dutch Sandwich is, but it sounds pretty dirty to me.

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  1. JLu
    October 22nd, 2010 at 15:29 | #1

    That’s pretty awesome. Google and their sly tactics haha.

  2. Stag
    October 22nd, 2010 at 15:33 | #2

    I don’t know what a dutch sandwich is either, but when we’re all blackout at alumni weekend, let’s grab some sluts and find out

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