Google (GOOG) avoided paying $2B in worldwide taxes last year by moving $9.8B in revenues into a...

|By:, SA News Editor

Google (GOOG) avoided paying $2B in worldwide taxes last year by moving $9.8B in revenues into a Bermuda shell company, a Bloomberg investigation shows. Because Bermuda doesn't have a corporate income tax, Google chopped its overall tax rate by almost half. The news comes as European authorities step up the pressure against multinationals for their tax avoidance.