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How Google Avoided Paying $60 Billion In Taxes

October 21st, 2010 10:06 admin Leave a comment Go to comments

bonch writes “Google only pays a 2.4% tax rate using money-funneling techniques known as the ‘Double Irish’ and the ‘Dutch Sandwich,’ even though the U.S. corporate income tax is 35%. By using Irish loopholes, money is transferred legally between subsidiaries and ends up in island sanctuaries that have no income tax, giving Google the lowest tax rate amongst its technology peers. Facebook is planning to use the same strategy.”

Source: How Google Avoided Paying $60 Billion In Taxes

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