AMSTERDAM: Google parent Alphabet will no longer use an intellectual property licensing scheme, known as the "Double Irish, Dutch sandwich ", which allowed it to delay paying U.S. taxes, 2018 tax filings show.A Google spokesman on Tuesday confirmed it would scrap the licensing structure, saying this was in line with international rules and followed changes to U.S. tax law in 2017.Dutch filings, which were seen by Reuters , showed that in 2018 Google moved 21.8 billion euros ($24.5 billion) through its Dutch holding company to Bermuda , up from 19.9 billion in 2017. Google said it would end the practice after 2019. "A date of termination of the Company's licensing activities has not yet been con?rmed by senior leadership, however management expects that this termination will take place as of 31 December 2019 or during 2020," the Dutch filing said. "We're now simplifying our corporate structure and will license our IP (intellectual property) from the US, not Bermuda," a spokesman said in a statement. ($1 = 0.8913 euros)

Source: Economic Times January 01, 2020 11:37 UTC