Around the Net
Google Moves Billions To Bermuda, Cuts Tax Rate
- Computer Business Review, Sunday, October 13, 2013 3:58 PM
Google shifted €8.8bn of revenues to Bermuda last year, up a quarter on 2011, sparking further debate over search engine's tax affairs. The tech giant has reduced its international tax rate to about 5% by legally directing profits from its global subsidiaries into Bermuda, as the country does not charge corporate income tax. Citing the latest filings by one of Google's Dutch units, the FT revealed that the amount of royalty payments also includes €233m from one of its subsidiaries in Singapore.
