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Google Tax Haven Coming Home To Roost

  • Bloomberg, Monday, December 10, 2012 11:42 AM

Good thing Google isn’t running for public office, as Bloomberg is reporting that the search giant avoided about $2 billion in worldwide income taxes in 2011 by shifting nearly $10 billion in revenues into a Bermuda shell company. “By legally funneling profits from overseas subsidiaries into Bermuda … Google cut its overall tax rate almost in half,” Bloomberg reports. Needless to say, governments around the world are likely to be bothered by the news.

Read the whole story at Bloomberg »

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