Google Revenues Sheltered in No-Tax B...

Google Revenues Sheltered in No-Tax Bermuda Soar to $10 Billion

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Fact Track

Los Angeles, CA

#1 Dec 10, 2012
Source: Bloomberg News

Google Revenues Sheltered in No-Tax Bermuda Soar to $10 Billion

By Jesse Drucker - Dec 9, 2012 11:01 PM GMT-0600

Google Inc.(GOOG) 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.

The increase in Google’s revenues routed to Bermuda, disclosed in a Nov. 21 filing by a subsidiary in the Netherlands, could fuel the outrage spreading across Europe and in the U.S. over corporate tax dodging. Governments in France, the U.K., Italy and Australia are probing Google’s tax avoidance as they seek to boost revenue during economic doldrums.

...

“The tax strategy of Google and other multinationals is a deep embarrassment to governments around Europe,” said Richard Murphy, an accountant and director of Tax Research LLP in Norfolk, England.“The political awareness now being created in the U.K., and to a lesser degree elsewhere in Europe, is: It’s us or them. People understand that if Google doesn’t pay, somebody else has to pay or services get cut.”

http://www.bloomberg.com/news/2012-12-10/goog...

Read more: http://www.bloomberg.com/news/2012-12-10/goog...
jerry

United States

#2 Dec 12, 2012
More right wing tax avoidance.
Fredo

Minneapolis, MN

#3 Dec 12, 2012
jerry wrote:
More right wing tax avoidance.
Stealing names again Jumbo? What a shock! Chickenshit.
Time To Tax

Saint Paul, MN

#4 Dec 12, 2012
Fact Track wrote:
Source: Bloomberg News
Google Revenues Sheltered in No-Tax Bermuda Soar to $10 Billion
By Jesse Drucker - Dec 9, 2012 11:01 PM GMT-0600
Google Inc.(GOOG) 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.
The increase in Google’s revenues routed to Bermuda, disclosed in a Nov. 21 filing by a subsidiary in the Netherlands, could fuel the outrage spreading across Europe and in the U.S. over corporate tax dodging. Governments in France, the U.K., Italy and Australia are probing Google’s tax avoidance as they seek to boost revenue during economic doldrums.
...
“The tax strategy of Google and other multinationals is a deep embarrassment to governments around Europe,” said Richard Murphy, an accountant and director of Tax Research LLP in Norfolk, England.“The political awareness now being created in the U.K., and to a lesser degree elsewhere in Europe, is: It’s us or them. People understand that if Google doesn’t pay, somebody else has to pay or services get cut.”
http://www.bloomberg.com/news/2012-12-10/goog...
Read more: http://www.bloomberg.com/news/2012-12-10/goog...
This TAX ENTITLEMENT was brought to you by the REPUBLICAN TEA PARTY FREEDOM FIGHTERS!

The same ones who refuse to tax the rich and are willing to raise the taxes of Middle America!
DSM Local

Ankeny, IA

#5 Dec 12, 2012
This is what happens when you get tax-happy, maybe google will consider its' polotical donations to the left from now on as well
Fredo

Minneapolis, MN

#6 Dec 12, 2012
No, this is what happens when you 'thread starter' dies on the vine. Jumbo is trying to revive his thread starters that interest no one but himself.
Load of Crap

Saint Paul, MN

#7 Dec 13, 2012
The effective taxrate that corporations actually pay is the lowest in decades.
non-starter

Saint Paul, MN

#8 Dec 13, 2012
Load of Crap wrote:
The effective taxrate that corporations actually pay is the lowest in decades.
Good thing Google has Obama on their side.

By Jennifer O'Mahony
11:33AM GMT 05 Dec 2012
98 Comments
Mr Schmidt, 57, was offered the job of Treasury or Commerce Secretary or a new "Secretary of Business" slot, according to the Washington Examiner.

An anonymous strategist for the Democrats told the newspaper: "Nobody's better positioned for a Cabinet job, if he wants one."

Mr Schmidt's rebuttal was swift, however, as he told the Wall Street Journal in an interview yesterday: "I said last time and I've said again that Google is my home. I have no interest in working for the federal government".

Mr Schmidt played in a key role in the re-election of President Barack Obama last month, helping to oversee Google's $700,000 donation to his campaign.

Since Mr Obama took up the US presidency in 2008, he and Mr Schmidt have maintained a close relationship, appearing together at the company's Montain View, California headquarters in 2007.
Consistent

Grantsburg, WI

#9 Dec 13, 2012
Load of Crap wrote:
The effective taxrate that corporations actually pay is the lowest in decades.
Koolaid Sipper,

Repeat after me.....

The effective taxrate that corporations actually pay is the lowest in decades.

The effective taxrate that corporations actually pay is the lowest in decades.

The effective taxrate that corporations actually pay is the lowest in decades.

The effective taxrate that corporations actually pay is the lowest in decades.

Middle Class. Middle Class. Middle Class.

Corporate. Corporate. Corporate.

I won! I won! I won!

Good job, Your next Collectivized and Redistributed Groupthink Koolaid will be delivered next week.

What a GOOD BOY.....Big Sister likes you sweetie.
Load of Crap

Saint Paul, MN

#10 Dec 13, 2012
You don't much care for the truth, do you.
Soothsayer

Grantsburg, WI

#11 Dec 13, 2012
Load of Crap wrote:
You don't much care for the truth, do you.
Go to the Light!

Gawd the pain in your head must be unbearable!

The Light is your friend. The Light does not care about how stupid you are.

Seek the peace that can only be found in the Light!

Signed,
Allah
Load of Crap

Saint Paul, MN

#13 Dec 13, 2012
All you can do is sling insults. You have no facts to back your drunken assertions.
AntiMelting

Saint Paul, MN

#14 Dec 13, 2012
Soothsayer wrote:
<quoted text>
Go to the Light!
Gawd the pain in your head must be unbearable!
The Light is your friend. The Light does not care about how stupid you are.
Seek the peace that can only be found in the Light!
Signed,
Allah
Allah Akbar! Allah Akbar!

Speaking of God Is Great, Thank President Obama for the cheapest gas prices in many, many, years!!!!
AntiMelting

Saint Paul, MN

#16 Dec 14, 2012
non-stupid wrote:
Oh, look, another racist polar rant.
Thank you for the cheap gas, Mr. President!

I wish I would have voted for you rather than the other guy!
AntiMelting

Saint Paul, MN

#17 Dec 14, 2012
AntiMelting wrote:
<quoted text>
Thank you for the cheap gas, Mr. President!
I wish I would have voted for you rather than the other guy!
This is so much fun changing my name while commenting to myself. I sure do fool all those stupid Rethuglicants. Ha ha.
AntiMelting

Saint Paul, MN

#18 Dec 14, 2012
AntiMelting wrote:
<quoted text>
This is so much fun changing my name while commenting to myself. I sure do fool all those stupid Rethuglicants. Ha ha.
"I WILL GIVE YOU MY GUN WHEN YOU PRY IT FROM MY COLD, DEAD HANDS."

Thanks to the heavy lobbying by Charlton Heston, the NRA, the Republican Party, and the gun nuts like Ted Nugent, yet another gunman had an opportunity to live those words.

This is what the rich (who pay less taxes) supported by donating to the Republican Party.

I will never vote Republican again.
Fredo

Saint Paul, MN

#19 Dec 14, 2012
Fredo wrote:
<quoted text>Stealing names again Jumbo? What a shock! Chickenshit.
"I WILL GIVE YOU MY GUN WHEN YOU PRY IT FROM MY COLD, DEAD HANDS."

Thanks to the heavy lobbying by Charlton Heston, the NRA, the Republican Party, and the gun nuts like Ted Nugent, yet another gunman had an opportunity to live those words.

This is what the rich (who pay less taxes) supported by donating to the Republican Party.

I will never vote Republican again.
non-starter

Saint Paul, MN

#20 Dec 16, 2012
Fredo wrote:
<quoted text>
"I WILL GIVE YOU MY GUN WHEN YOU PRY IT FROM MY COLD, DEAD HANDS."
Thanks to the heavy lobbying by Charlton Heston, the NRA, the Republican Party, and the gun nuts like Ted Nugent, yet another gunman had an opportunity to live those words.
This is what the rich (who pay less taxes) supported by donating to the Republican Party.
I will never vote Republican again.
Yeah, that post has a lot to do with Google legally sheltering $10 billion from taxes.
Amused Slew

Kent, WA

#21 Dec 16, 2012
Just like dip Mitt, right ??? Seems you're still the same dumb hypocrite....
non-starter

Saint Paul, MN

#22 Dec 16, 2012
Amused Slew wrote:
Just like dip Mitt, right ??? Seems you're still the same dumb hypocrite....
You are certainly a low integrity low honesty poster. I don't think you will find any posts of mine relating to the presidential election, I came back online after that. But nice try low integrity multiple personality poster.

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