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

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.
Comments (7)
  • anomaly1
    , contributor
    Comments (816) | Send Message
     
    GOOG short
    10 Dec 2012, 05:54 AM Reply Like
  • WildKiwi
    , contributor
    Comments (93) | Send Message
     
    Investors are better at putting their dividends to work in the economy than government spending taxes on bailing out banks.
    10 Dec 2012, 06:00 AM Reply Like
  • b0a4pkd
    , contributor
    Comments (29) | Send Message
     
    I guess the tax issue really gets me going. Great job Google. By using creative ways to preserve capital they are able to hold on and ultimately utilize that capital. We are talking Google here. Search, maps, Android, fiber networks, etc... I will submit Google can use dollars far more effectively than can the government. I have my money on Google. The government will use/waste all and any monies they receive and continue to demonize and criticize. How about lowering taxes allowing others to spend more freely thus giving the government more tax dollars in the process? Is it possible for the government to streamline and cut out fraud/abuse. Shouldn't these guys at least fix those things before demanding more tax dollars from people who know how to use that capital to create more capital as opposed to government using it to create more deficits. Go Google!
    10 Dec 2012, 06:29 AM Reply Like
  • pman6
    , contributor
    Comments (270) | Send Message
     
    I wish I could evade taxes that easily too
    10 Dec 2012, 06:55 AM Reply Like
  • Tenche
    , contributor
    Comments (4) | Send Message
     
    So, instead of band-aiding the problem like the government always does, why not instead look at the root cause - What causes companies and people to evade taxes?

     

    Of course people are always going to be sort of greedy, and I'm almost certain that will be their main claim to enacting a law to prevent companies from doing this. However, they're missing the root cause.

     

    The root cause is that the government does little to nothing to attract , well, investors. No one wants to pay taxes for things like unjustifiable wars, government programs which again only band-aid things and don't actually work (welfare, etc etc), and whatever other stupid shit they do. People and companies wouldn't want to avoid taxation if it was balanced and for a good cause (freedom and the defense of freedom). Instead, the government has to use FORCE and VIOLENCE to get people to pay taxes. Am I the only person who sees this? What am I missing?
    10 Dec 2012, 07:44 AM Reply Like
  • kmi
    , contributor
    Comments (4093) | Send Message
     
    When it comes to avoiding paying taxes, anyone who can, does. And when they do it better than you, that means you are pulling their weight.
    10 Dec 2012, 11:24 AM Reply Like
  • Poor Texan
    , contributor
    Comments (3533) | Send Message
     
    You mean Google doesn't want to share the wealth?
    10 Dec 2012, 11:15 AM Reply Like
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