HardOCP News
[H] News
- Joined
- Dec 31, 1969
- Messages
- 0
A tax scheme that saved Google $3.1 billion? Damn, I'd just be happy if I had a plan that saved me three dollars or enough for that “Dutch sandwich” they were talking about.
Google Inc. cut its taxes by $3.1 billion in the last three years using a technique that moves most of its foreign profits through Ireland and the Netherlands to Bermuda. Google’s income shifting involving strategies known to lawyers as the “Double Irish” and the “Dutch Sandwich” helped reduce its overseas tax rate to 2.4 percent.