Google’s use of the “double Irish, Dutch sandwich” tax ruse does not sit well with even some of its staff STEPHEN LAM/REUTERSGoogle moved nearly €19.9 billion to a subsidiary in Bermuda in 2017 as part of its contentious “Dutch sandwich” tax avoidance manoeuvre. The amount of cash channelled to the Caribbean haven through a Dutch subsidiary increased by about €4 billion that year, according to accounts filed in the Netherlands. The method helped Google to pay a corporation tax rate of a little more than 6 per cent on its foreign earnings, compared with the 35 per cent headline rate in effect in the US at the time. The revelation, which was first reported by Reuters, shed light on the legal methods Google’s parent company Alphabet and other multinationals use to lower their tax bills. Widespread avoidance by Silicon Valley companies has led to an international…

Source: The Times January 04, 2019 00:00 UTC