Google in 2016, has taken to the offshore 16 billion euros – Bloomberg

Google в 2016 году увела в офшоры 16 млрд евро – Bloomberg

The Corporation uses legal schemes of tax evasion involving a company-“mailbox” in the Netherlands.

American multinational Corporation Google in 2016 translated to 15.9 billion euros (19.2 billion dollars) to the account of offshore companies registered in Bermuda, to use legal schemes to avoid paying billions of dollars in taxes. On Tuesday, January 2, Bloomberg reported, citing documents submitted by the company at the Dutch chamber of Commerce.

To exempt from taxation a large part of their international profits Google uses two schemes that have received informal name “double Irish and Dutch sandwich”.

We are talking about the fact that the Corporation is using the Irish subsidiary translates its revenues at the expense of the company-“mailbox” in the Netherlands. From there the funds are received in one offshore company in Bermuda owned by the other registered in Ireland company.

According to Bloomberg, the volume thus withdrawn funds in 2016 were on the seven per cent higher than a year earlier.

In November 2017, the international consortium of investigative journalism revealed the new schemes of evasion from payment of taxes as a result of leaks of company documents Appleby Bermuda – one of the world’s largest firms with operations in offshore, corporate governance and Finance.

Source: Russian service of DW