Difference between revisions of "Google and Taxes"
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* In 2017, Google | * In 2017, Google moved $22.7 billion through a Dutch shell company in Bermuda, where companies pay no income tax, to reduce its foreign tax bill.<ref>https://www.reuters.com/article/us-google-taxes-netherlands/google-shifted-23-billion-to-tax-haven-bermuda-in-2017-filing-idUSKCN1OX1G9</ref> | ||
** The | ** The tax strategy was phased out beginning in 2014 in response to pressure from the EU and the United States, two regions that were cheated by this tax advantage, ending Google’s tax advantages in 2020. | ||
* 2010 | * 2010 to 2019: Google paid $27.9 billion in income taxes on $176.6 billion in profits after taking in $647.7 billion in revenue. | ||
* Google’s | * Google’s cash tax paid amounted to 15.8 percent of its profits, despite a federal headline tax rate of 35 percent in the United States. | ||
Latest revision as of 19:14, 23 March 2022
- In 2017, Google moved $22.7 billion through a Dutch shell company in Bermuda, where companies pay no income tax, to reduce its foreign tax bill.[1]
- The tax strategy was phased out beginning in 2014 in response to pressure from the EU and the United States, two regions that were cheated by this tax advantage, ending Google’s tax advantages in 2020.
- 2010 to 2019: Google paid $27.9 billion in income taxes on $176.6 billion in profits after taking in $647.7 billion in revenue.
- Google’s cash tax paid amounted to 15.8 percent of its profits, despite a federal headline tax rate of 35 percent in the United States.
