Newly revealed tax filings show Google shifted $23 billion to accounts in Bermuda in 2017 as part of a complex tax avoidance scheme that saved the tech giant billions of dollars in revenue. The scheme involved funneling money through Google Ireland Holdings and a Dutch shell company based in Bermuda, where corporations pay no income tax. The scheme, known as the “Double Irish Dutch Sandwich,” is legal, although Ireland’s government has said it will close a loophole allowing the arrangement in 2020.
Google Uses “Double Irish Dutch Sandwich” Scheme to Avoid Taxes
HeadlineJan 04, 2019