Google Avoids Taxes With Bermuda Shell

Discussion in 'Politics & Religion' started by pspr, Dec 10, 2012.

  1. pspr


    Nice plan if you have the money and structure to make it work.

    Google Inc. 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. The amount moved to Bermuda is equivalent to about 80 percent of Google’s total pretax profit in 2011.

  2. Tsing Tao

    Tsing Tao

    Where's the outcry over this?

    Do you know how much "rich" people tax (over $200k) a year these taxes could cover?
  3. You'd think the government would/could...

    1. Cut wasteful spending

    2. Cut fraud

    3. Close "loopholes"

    Before demanding higher taxes from those with no vote.

  4. pspr


    Those Google guys are Obama buddies. He probably had the IRS help them setup this maneuver to avoid taxes. If you are Obama's friend you don't need to pay higher taxes, it's just those who didn't vote for him. Google raised a lot of money for Obama's campaign. He loves Google.
  5. Yes, it's very "Soviet".
  6. jem


    buffet google ge... they are set up to not pay they advocate crushing taxes so their competition can never build up the profits to take them on.

    it is very soviet.
    but the every day leftists do not realize their masters view them as pawns and the fewer rights they have the better.