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

[TheResearcher]

http://www.bloomberg.com/news/2012-1...0-billion.html

"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."

Occupy GOOGLE!!!

[Brohan]

Noooo, tech is hip...it's ok.

[Contumacious]

http://www.bloomberg.com/news/2012-1...0-billion.html

"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."

Occupy GOOGLE!!!

I am glad to know that Google is a well managed company.

They are following the Libertarian, not the Buffett, rule.

.

[BiggSeth]

http://www.bloomberg.com/news/2012-1...0-billion.html

"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."

Occupy GOOGLE!!!

But google likes obama so it is ok. these evil rich aren't the evil rich you are looking for.....

[pickles]

"Exposing" hypocrisy by being extremely hypocritical.

Gotta love the irony. Good job fellas!

[BiggSeth]

"Exposing" hypocrisy by being extremely hypocritical.

Gotta love the irony. Good job fellas!

the irony lies in the simple fact that you assume everyone thinks sheltering one's hard-earned profits from marxist-run gubment with an inquenchable thirst for the wealth of the productive is in fact wrong, or "unjust". How can one be hypocritical when they agree with the practice? the hyprocrisy is in the obama regime not going after the likes of google, ge, etc. simply because they bribed the regime in the guise of "campaign contributions".....

[Contumacious]

the irony lies in the simple fact that you assume everyone thinks sheltering one's hard-earned profits from marxist-run gubment with an inquenchable thirst for the wealth of the productive is in fact wrong, or "unjust". How can one be hypocritical when they agree with the practice?

Excellent

the hyprocrisy is in the obama regime not going after the likes of google, ge, etc. simply because they bribed the regime in the guise of "campaign contributions".....

Incorrect.

Remember, the federal government is a continuing criminal enterprise. So mafia don Obama demands "protection money"


.

[pickles]

the irony lies in the simple fact that you assume everyone thinks sheltering one's hard-earned profits from marxist-run gubment with an inquenchable thirst for the wealth of the productive is in fact wrong, or "unjust". How can one be hypocritical when they agree with the practice? the hyprocrisy is in the obama regime not going after the likes of google, ge, etc. simply because they bribed the regime in the guise of "campaign contributions".....

No, the hypocrisy is the same people who said when Mitt Romney did it it was "smart" and "good business" now want to somehow blame Obama for google doing it as well, because google is somehow pro-Obama. I guess they can use computers they must be liberal, socialist dogs. What w believing in science and all.

[flyboy56]

No, the hypocrisy is the same people who said when Mitt Romney did it it was "smart" and "good business" now want to somehow blame Obama for google doing it as well, because google is somehow pro-Obama. I guess they can use computers they must be liberal, socialist dogs. What w believing in science and all.

I really don't remember anyone saying it was smart and good business for Romney to park his dollars in an offshore account. What they were saying was it was perfectly legal for him to do so, which strengthened the argument for closing the tax loop holes as apposed to raising the tax rates on the rich.

[pickles]

I really don't remember anyone saying it was smart and good business for Romney to park his dollars in an offshore account. What they were saying was it was perfectly legal for him to do so, which strengthened the argument for closing the tax loop holes as apposed to raising the tax rates on the rich.

If you don't recall that then you're either being selectively or willingly ignorant.

The tax code should be thoroughly looked at. That in no way weakens the argument to raise rates. They're different issues.

[The Eternal White Belt]

If you don't recall that then you're either being selectively or willingly ignorant.

HEY, HEY, HEY!!!! Don't steal my self-deprecating lines!

[The Eternal White Belt]

What's interesting is that the article makes it seem like they are dodging UK taxes (legally) and not US taxes. Not sure though, as the article is obviously focused on (and originates from) the UK.

[pickles]

HEY, HEY, HEY!!!! Don't steal my self-deprecating lines!

Haha. I just saw that and was wondering if you'd read my post here before writing that, but I thought not as it was only like 30 seconds old.

Great minds.... I guess.

[flyboy56]

If you don't recall that then you're either being selectively or willingly ignorant.

The tax code should be thoroughly looked at. That in no way weakens the argument to raise rates. They're different issues.

So they raise rates? As long as the loop holes are still there the rates are meaningless.