Google moves €8.8B to Bermuda to keep taxes low

|By:, SA News Editor

Google (GOOG) transferred €8.8B in royalty payments to Bermuda last year, a move that cut the company's international tax rates to 5%. That's less than half the levy charged in already low-tax Ireland, where Google records most of its overseas sales.

Google, which has attracted the ire of politicians on both sides of the Atlantic for exploiting international loopholes to minimize its tax costs, also makes use of the "Dutch Sandwich," whereby it routes earnings through Holland in order to avoid witholding taxes.