Overclock.net › Forums › Industry News › Technology and Science News › [Bloomberg] Google Revenues Sheltered in No-Tax Bermuda Soar to $10 Billion
New Posts  All Forums:Forum Nav:

[Bloomberg] Google Revenues Sheltered in No-Tax Bermuda Soar to $10 Billion

post #1 of 92
Thread Starter 
Quote:
By legally funneling profits from overseas subsidiaries into Bermuda, which doesn’t have a corporate income tax, Google cut its overall tax rate almost in half. The amount moved to Bermuda is equivalent to about 80 percent of Google’s total pretax profit in 2011.

The increase in Google’s revenues routed to Bermuda, disclosed in a Nov. 21 filing by a subsidiary in the Netherlands, could fuel the outrage spreading across Europe and in the U.S. over corporate tax dodging. Governments in France, the U.K., Italy and Australia are probing Google’s tax avoidance as they seek to boost revenue during economic doldrums.

Source
Kneel before Zod
(14 items)
 
  
CPUMotherboardGraphicsRAM
Dual X5680 - 24 Threads! Supermicro X8DAH+F XFX 5770 KVR 12 GB DDR3 1333 MHz 
Hard DriveHard DriveOptical DriveOS
OCZ Vector 256GB HGST Asus BluRay W7 64 Pro 
MonitorPowerCase
LG 34 Inch Ultrawide 3440x1440 Enermax Revolution 850 Cosmos 1000 
  hide details  
Reply
Kneel before Zod
(14 items)
 
  
CPUMotherboardGraphicsRAM
Dual X5680 - 24 Threads! Supermicro X8DAH+F XFX 5770 KVR 12 GB DDR3 1333 MHz 
Hard DriveHard DriveOptical DriveOS
OCZ Vector 256GB HGST Asus BluRay W7 64 Pro 
MonitorPowerCase
LG 34 Inch Ultrawide 3440x1440 Enermax Revolution 850 Cosmos 1000 
  hide details  
Reply
post #2 of 92
Don't be evil?
post #3 of 92
Well, business is business but yes, crooked companies are crooked.
Malignance
(24 items)
 
  
CPUMotherboardGraphicsRAM
i5-2500K Asus P8Z68-V eVGA GTX670 FTW 16GB Mushkin DDR3-2100 1.5V 
Hard DriveHard DriveHard DriveOptical Drive
2 x 128GB Crucial M4 2 x 1TB Samsung F3 RAID0 1.5TB Seagate Asus 22X DVDRW 
CoolingOSMonitorMonitor
Noctua NH-D14 Windows 7 Ultimate 64-bit Dell Ultrasharp U2410 Asus ProArt PA248Q 
KeyboardPowerCaseMouse
Rosewill RK-9000BR PCP&P Silencer MKIII 600W Lian Li PC-A05NB Logitech G500 
Mouse PadAudioAudioAudio
Rocketfish Dual Sided Asus Xonar Essence STX Infinity Primus P153 | Dayton DTA-120 Amplifier... Shure SRH840 
AudioAudioAudio
Audio Technica ATH-AD700X Objective DAC Audio-Technica ATR2500-USB 
  hide details  
Reply
Malignance
(24 items)
 
  
CPUMotherboardGraphicsRAM
i5-2500K Asus P8Z68-V eVGA GTX670 FTW 16GB Mushkin DDR3-2100 1.5V 
Hard DriveHard DriveHard DriveOptical Drive
2 x 128GB Crucial M4 2 x 1TB Samsung F3 RAID0 1.5TB Seagate Asus 22X DVDRW 
CoolingOSMonitorMonitor
Noctua NH-D14 Windows 7 Ultimate 64-bit Dell Ultrasharp U2410 Asus ProArt PA248Q 
KeyboardPowerCaseMouse
Rosewill RK-9000BR PCP&P Silencer MKIII 600W Lian Li PC-A05NB Logitech G500 
Mouse PadAudioAudioAudio
Rocketfish Dual Sided Asus Xonar Essence STX Infinity Primus P153 | Dayton DTA-120 Amplifier... Shure SRH840 
AudioAudioAudio
Audio Technica ATH-AD700X Objective DAC Audio-Technica ATR2500-USB 
  hide details  
Reply
post #4 of 92
In a perfect world there wouldn't be a corporate tax at all. Corporate profits go into the pockets of individuals who pay income tax. Alas this isn't a perfect world, and the rich don't pay taxes like us peasants do, so I approve of getting the monies out of the corps if possible.

Gotta wonder why govmints legally allow corporations to funnel money out of country and into tax havens without having to pay tax first though. Guess the corps own as many politicians as the rich do.
post #5 of 92
Google is not technically doing anything illegal
post #6 of 92
Quote:
Originally Posted by kiwiasian View Post

Google is not technically doing anything illegal

yessir.gif And honestly, if someone offered you a tax deduction wouldn't you take it? Seriously ponder that for a minute. If someone has a 100% free and LEGAL way to avoid paying taxes...why not?
Heisenberg
(10 items)
 
Redemption
(18 items)
 
 
CPUGraphicsRAMHard Drive
Intel Core 2 Extreme @ 2.8GHz (upgrade) Intel GMA 950 2 x 2 DDR2 667MHz (upgrade) 120GB Mushkin ECO2 
Optical DriveOSMonitorPower
Replaced with 42 W/hr aux battery Mint 17.3 1280x800 Dell 65w Dell Adapter 
CaseOther
Latitude D630 Chassis Intel 7260-802.11ac 2x2 
CPUMotherboardGraphicsRAM
Not telling AsRock something Pixel Pusher 2 x 8 GB AMD Radeon RAM @ 1600mhz (All the VM's) 
Hard DriveHard DriveHard DriveOptical Drive
Crucial M4 128GB (8 second boot) Western Digital RE4 1TB Western Digital RE4 2TB Pioneer Blu-Ray Reader/Writer 
CoolingOSMonitorKeyboard
Cooler Master Hyper 212 Evo Windows 8.1 Pro x64 Dell U2713HM IBM Model M (CLICKY!!) 
PowerCaseMouseAudio
Antec HCG-900 NZXT Source 210 (it was cheap) Logitech G502 Schiit Modi 
AudioAudio
Sennheiser HD 598 M-Audio AV40's 
CPUMotherboardGraphicsRAM
Intel Core i5-4200U Microsoft BGA1168 Intel HD 4400 8 GB LPDDR3 Dual Channel @ 1600mhz 
Hard DriveOSMonitorKeyboard
SK Hynix 256GB SSD Windows 8.1 Professional 1920 x 1080p IPS Display Microsoft Touch Cover 2 
Power
48w PSU 
  hide details  
Reply
Heisenberg
(10 items)
 
Redemption
(18 items)
 
 
CPUGraphicsRAMHard Drive
Intel Core 2 Extreme @ 2.8GHz (upgrade) Intel GMA 950 2 x 2 DDR2 667MHz (upgrade) 120GB Mushkin ECO2 
Optical DriveOSMonitorPower
Replaced with 42 W/hr aux battery Mint 17.3 1280x800 Dell 65w Dell Adapter 
CaseOther
Latitude D630 Chassis Intel 7260-802.11ac 2x2 
CPUMotherboardGraphicsRAM
Not telling AsRock something Pixel Pusher 2 x 8 GB AMD Radeon RAM @ 1600mhz (All the VM's) 
Hard DriveHard DriveHard DriveOptical Drive
Crucial M4 128GB (8 second boot) Western Digital RE4 1TB Western Digital RE4 2TB Pioneer Blu-Ray Reader/Writer 
CoolingOSMonitorKeyboard
Cooler Master Hyper 212 Evo Windows 8.1 Pro x64 Dell U2713HM IBM Model M (CLICKY!!) 
PowerCaseMouseAudio
Antec HCG-900 NZXT Source 210 (it was cheap) Logitech G502 Schiit Modi 
AudioAudio
Sennheiser HD 598 M-Audio AV40's 
CPUMotherboardGraphicsRAM
Intel Core i5-4200U Microsoft BGA1168 Intel HD 4400 8 GB LPDDR3 Dual Channel @ 1600mhz 
Hard DriveOSMonitorKeyboard
SK Hynix 256GB SSD Windows 8.1 Professional 1920 x 1080p IPS Display Microsoft Touch Cover 2 
Power
48w PSU 
  hide details  
Reply
post #7 of 92
Quote:
Originally Posted by kiwiasian View Post

Google is not technically doing anything illegal

They're not, many companies do it, but it's definitely not good publicity. This is $10 BILLION that is going by untaxed. A lot of tax revenue that could have gone into the economy of whatever country. What I don't understand is:
Quote:
By legally funneling profits from overseas subsidiaries into Bermuda, which doesn’t have a corporate income tax, Google cut its overall tax rate almost in half.

How does simply funneling the profits to an account in Bermuda void you of taxes? If you sold the products and earned the revenue within a particular country, aren't you obligated to pay the taxes within that country of sale?
Gaming Rig
(20 items)
 
  
CPUMotherboardGraphicsRAM
Intel 2500k, 4.6GHz, 1.304v ASRock P67 Extreme4 Gen3 2x Sapphire HD7970 OC with Boost, 1150 MHz/1550... 2x4GB DDR3 1600 Corsair Vengeance 
Hard DriveHard DriveHard DriveOptical Drive
Samsung 840 Pro Samsung 750GB HD753LJ Samsung F3 ASUS 24X DVD Combo Drive 
CoolingOSMonitorKeyboard
Noctua DH14 Windows 8 Professional x64 Crossover 27Q 27" IPS LED, 2560x1440 Logitech G11 
PowerCaseMouseMouse Pad
Corsair TX750 Cooler Master HAF932 Logitech G500 Custom 
AudioAudioAudioAudio
Creative X-Fi Titanium Fatal1ty 2x Dayton B652 Bookshelf Dayton DTA-100A Amplifier Dayton 12" SUB-1200 Subwoofer 
  hide details  
Reply
Gaming Rig
(20 items)
 
  
CPUMotherboardGraphicsRAM
Intel 2500k, 4.6GHz, 1.304v ASRock P67 Extreme4 Gen3 2x Sapphire HD7970 OC with Boost, 1150 MHz/1550... 2x4GB DDR3 1600 Corsair Vengeance 
Hard DriveHard DriveHard DriveOptical Drive
Samsung 840 Pro Samsung 750GB HD753LJ Samsung F3 ASUS 24X DVD Combo Drive 
CoolingOSMonitorKeyboard
Noctua DH14 Windows 8 Professional x64 Crossover 27Q 27" IPS LED, 2560x1440 Logitech G11 
PowerCaseMouseMouse Pad
Corsair TX750 Cooler Master HAF932 Logitech G500 Custom 
AudioAudioAudioAudio
Creative X-Fi Titanium Fatal1ty 2x Dayton B652 Bookshelf Dayton DTA-100A Amplifier Dayton 12" SUB-1200 Subwoofer 
  hide details  
Reply
post #8 of 92
Good for Google! Screw this greedy government's punitive taxation...
post #9 of 92
Quote:
Originally Posted by Majin SSJ Eric View Post

Good for Google! Screw this greedy government's punitive taxation...

I concur, since the days of Hammurabi all taxes have been levied as a punishment for those who dare to rise above the sand.
...
Taxes pay for stuff, If you don't agre with them, go vote about where the taxes go, not taxes.

Scampering of to a taxhaven with Samsonites filled with cash is so 20th century, cmon google get with the program.
 
Rebeccas Dator
(14 items)
 
 
CPUMotherboardGraphicsRAM
I5 2500K Asus P8P67 Pro  6950 DCII G.skill 
Hard DriveHard DriveHard DriveHard Drive
Intel 330 Seagate Barracuda WD Green OCZ Vertex 
CoolingOSMonitorKeyboard
H212 W7 21.5 Sidewinder x4/Lenovo with Trackpoint 
PowerCaseMouseMouse Pad
Antec 900w Define r2 MX518 Qpad 1.5mm 
Audio
Edifier R1900TII 2.0 
CPUMotherboardGraphicsRAM
II X4 965 Gigabyte GA-MA785GMT-UD2H Sapphire 5770 DDR3 1600mhz 
Hard DriveOptical DriveCoolingOS
2x 500gb DVD H212 windows 7 
MonitorKeyboardPowerCase
3x Benq 21.5 inch X4 chieftec 650w Define mini 
Mouse
mx518 
  hide details  
Reply
 
Rebeccas Dator
(14 items)
 
 
CPUMotherboardGraphicsRAM
I5 2500K Asus P8P67 Pro  6950 DCII G.skill 
Hard DriveHard DriveHard DriveHard Drive
Intel 330 Seagate Barracuda WD Green OCZ Vertex 
CoolingOSMonitorKeyboard
H212 W7 21.5 Sidewinder x4/Lenovo with Trackpoint 
PowerCaseMouseMouse Pad
Antec 900w Define r2 MX518 Qpad 1.5mm 
Audio
Edifier R1900TII 2.0 
CPUMotherboardGraphicsRAM
II X4 965 Gigabyte GA-MA785GMT-UD2H Sapphire 5770 DDR3 1600mhz 
Hard DriveOptical DriveCoolingOS
2x 500gb DVD H212 windows 7 
MonitorKeyboardPowerCase
3x Benq 21.5 inch X4 chieftec 650w Define mini 
Mouse
mx518 
  hide details  
Reply
post #10 of 92
Quote:
Originally Posted by Majin SSJ Eric View Post

Good for Google! Screw this greedy government's punitive taxation...

Because our government clearly doesn't need money to pay for its services, right? rolleyes.gif
Aardvark-VIII
(17 items)
 
Dell GX1
(11 items)
 
 
CPUMotherboardGraphicsRAM
Core i5-2500K ASRock Z68 Extreme3 Gen3 Asus Matrix 7970 Platinum 16GB Patriot Signature DDR3-1600 
Hard DriveHard DriveHard DriveOptical Drive
2x 64GB Crucial M4 RAID 0 2TB WD RE 1TB WD Caviar Black LG Bluray/HD-DVD combo 
OSMonitorKeyboardPower
Win8.1 Pro x64 Calibrated HP LP2475w Rosewill RK-9000BR Seasonic SSR-550RM 
CaseMouseMouse PadAudio
Corsair 600T White Razer Deathadder 3500dpi Razer ExactMat Asus Xonar DX -> Stello DA100 
Other
Intel PRO/1000 GT LAN 
CPUGraphicsRAMHard Drive
Pentium III 500MHz GeForce2 MX 400 PCI 512MB 100MHz CAS2 SDRAM 120GB Seagate ST3120213A 
Optical DriveCoolingOSMonitor
Asus 52x CDROM Stock Windows 98 SE Dell Trinitron P991 
KeyboardOtherOther
Dell AT101W (Mechanical) Promise Ultra100 IDE controller Rounded IDE and floppy cables! 
  hide details  
Reply
Aardvark-VIII
(17 items)
 
Dell GX1
(11 items)
 
 
CPUMotherboardGraphicsRAM
Core i5-2500K ASRock Z68 Extreme3 Gen3 Asus Matrix 7970 Platinum 16GB Patriot Signature DDR3-1600 
Hard DriveHard DriveHard DriveOptical Drive
2x 64GB Crucial M4 RAID 0 2TB WD RE 1TB WD Caviar Black LG Bluray/HD-DVD combo 
OSMonitorKeyboardPower
Win8.1 Pro x64 Calibrated HP LP2475w Rosewill RK-9000BR Seasonic SSR-550RM 
CaseMouseMouse PadAudio
Corsair 600T White Razer Deathadder 3500dpi Razer ExactMat Asus Xonar DX -> Stello DA100 
Other
Intel PRO/1000 GT LAN 
CPUGraphicsRAMHard Drive
Pentium III 500MHz GeForce2 MX 400 PCI 512MB 100MHz CAS2 SDRAM 120GB Seagate ST3120213A 
Optical DriveCoolingOSMonitor
Asus 52x CDROM Stock Windows 98 SE Dell Trinitron P991 
KeyboardOtherOther
Dell AT101W (Mechanical) Promise Ultra100 IDE controller Rounded IDE and floppy cables! 
  hide details  
Reply
New Posts  All Forums:Forum Nav:
  Return Home
  Back to Forum: Technology and Science News
Overclock.net › Forums › Industry News › Technology and Science News › [Bloomberg] Google Revenues Sheltered in No-Tax Bermuda Soar to $10 Billion