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 - Page 2

post #11 of 92
Anyone wonder why have such successful companies and yet such poor debt? Well, there is your answer right there.

All the big players cheap themselves out of paying taxes which the, as some of you call them, peasents, have to fund the country alone. Google, Apple, big name oil sands, etc., should be taxed no different then we should 20-30% of our income. Oh, but wait, they'll just ditch the country and move somewhere else (lol, have fun them making much less with smaller markets).
post #12 of 92
Quote:
Originally Posted by Stealth Pyros View Post

What I don't understand is: 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?

These techniques are legal and are not only used by Google but also by Apple and Microsoft. Google uses a form of a "Double Irish With A Dutch Sandwich" which means in short a company sends its profits to a irish bases company with its HQ in Ireland from there it sends its money to business bases in The Netherlands on which it is send back to an Irish companies HQ in a tax haven or where the taxes are extremely low.

source: http://www.investopedia.com/terms/d/double-irish-with-a-dutch-sandwich.asp#axzz2Ekp4RGjl

Its just about moving the money around in the right way, to get the most out of it.. Every company wants get the highest amount profit, so why wouldnt you do this, its even legal, That the EU and all other companies aren't happy with it, I can understand but still this is just a form of using the system at this best and most profited way..
Server
(10 items)
 
  
CPUMotherboardGraphicsRAM
Core i7 920 D0 ASUS P6T SE AMD X1600 OCZ Platinum XTC 6GB DDR3-1333 CL7 triple kit 
Hard DriveHard DriveOSMonitor
Maxtor 250GB Samsung 1.5TB HD154UI unRAID v5.0-rc5 Acer H223HQ 
PowerCase
Zalman ZM750-HP 750W Cooler Master Silencio 550 
  hide details  
Reply
Server
(10 items)
 
  
CPUMotherboardGraphicsRAM
Core i7 920 D0 ASUS P6T SE AMD X1600 OCZ Platinum XTC 6GB DDR3-1333 CL7 triple kit 
Hard DriveHard DriveOSMonitor
Maxtor 250GB Samsung 1.5TB HD154UI unRAID v5.0-rc5 Acer H223HQ 
PowerCase
Zalman ZM750-HP 750W Cooler Master Silencio 550 
  hide details  
Reply
post #13 of 92
Yay google! All for them! Proves the fact that companies will go to places where taxes are low....common sense!
post #14 of 92
Quote:
Originally Posted by Domino View Post

Anyone wonder why have such successful companies and yet such poor debt? Well, there is your answer right there.
All the big players cheap themselves out of paying taxes which the, as some of you call them, peasents, have to fund the country alone. Google, Apple, big name oil sands, etc., should be taxed no different then we should 20-30% of our income. Oh, but wait, they'll just ditch the country and move somewhere else (lol, have fun them making much less with smaller markets).

Its a free trade economy. There's nothing stopping them from moving to a different country, so its sort of a catch 22. Let's be frank here: all firms do this, and if you force their hand they will simply move to a different country with lower tax rates -- as free trade allows them to. What do you do? The problem lies elsewhere IMO. Firms didn't abuse tax laws during the 1980s, the current trends are just indicative of how messed up our current tax laws are.
post #15 of 92
Quote:
Originally Posted by Rexel View Post


Its just about moving the money around in the right way, to get the most out of it.. Every company wants get the highest amount profit, so why wouldnt you do this, its even legal, That the EU and all other companies aren't happy with it, I can understand but still this is just a form of using the system at this best and most profited way..

just bc something is legal doesnt mean its morally right, thats the point.
pc
(6 items)
 
  
CPUMotherboardGraphicsHard Drive
i7 920 p6x58d-e 6850 gskill 60 gb ssd 
CoolingCase
noctua nh-d14 arc midi r2 
  hide details  
Reply
pc
(6 items)
 
  
CPUMotherboardGraphicsHard Drive
i7 920 p6x58d-e 6850 gskill 60 gb ssd 
CoolingCase
noctua nh-d14 arc midi r2 
  hide details  
Reply
post #16 of 92
Quote:
Originally Posted by Rexel View Post

These techniques are legal and are not only used by Google but also by Apple and Microsoft. Google uses a form of a "Double Irish With A Dutch Sandwich" which means in short a company sends its profits to a irish bases company with its HQ in Ireland from there it sends its money to business bases in The Netherlands on which it is send back to an Irish companies HQ in a tax haven or where the taxes are extremely low.
source: http://www.investopedia.com/terms/d/double-irish-with-a-dutch-sandwich.asp#axzz2Ekp4RGjl
Its just about moving the money around in the right way, to get the most out of it.. Every company wants get the highest amount profit, so why wouldnt you do this, its even legal, That the EU and all other companies aren't happy with it, I can understand but still this is just a form of using the system at this best and most profited way..

Exactly.... until nations agree to work together to close these loopholes, this will continue to happen.

Not only companies but wealthy individuals do this as well.
Once again...
(13 items)
 
  
CPUMotherboardGraphicsRAM
i7 920 [4.28GHz, HT] Asus P6T + Broadcom NetXtreme II VisionTek HD5850 [900/1200] + Galaxy GT240 2x4GB G.Skill Ripjaw X [1632 MHz] 
Hard DriveOSMonitorKeyboard
Intel X25-M 160GB + 3xRAID0 500GB 7200.12 Window 7 Pro 64 Acer H243H + Samsung 226BW XARMOR-U9BL  
PowerCaseMouseMouse Pad
Antec Truepower New 750W Li Lian PC-V2100 [10x120mm fans] Logitech G9 X-Trac Pro 
  hide details  
Reply
Once again...
(13 items)
 
  
CPUMotherboardGraphicsRAM
i7 920 [4.28GHz, HT] Asus P6T + Broadcom NetXtreme II VisionTek HD5850 [900/1200] + Galaxy GT240 2x4GB G.Skill Ripjaw X [1632 MHz] 
Hard DriveOSMonitorKeyboard
Intel X25-M 160GB + 3xRAID0 500GB 7200.12 Window 7 Pro 64 Acer H243H + Samsung 226BW XARMOR-U9BL  
PowerCaseMouseMouse Pad
Antec Truepower New 750W Li Lian PC-V2100 [10x120mm fans] Logitech G9 X-Trac Pro 
  hide details  
Reply
post #17 of 92
Quote:
Originally Posted by AMD20x6 View Post

Because our government clearly doesn't need money to pay for its services, right? rolleyes.gif

First point, it is a free trade economy. If you force firms to pay, they will move to different countries. I'm sorry, but business is all about profit maximization, they aren't there for charity. Thank free trade for this. Free trade means that everything goes where it is the cheapest - this is why unskilled labor is NOT in demand in the US - people whine about this all the time, but until free trade ends it (outsourcing) will always happen no matter what.

Second point, firms didn't abuse tax laws like this in decades prior; it didn't become prevalent until after the Clinton administration. The problem lies with poor tax laws and out of control spending - the real problems have yet to be addressed.
post #18 of 92
Quote:
Originally Posted by kiwiasian View Post

Google is not technically doing anything illegal

Quote:
Originally Posted by coachmark2 View Post

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?

^ Plain and simple.
 
FPS Death Machine
(15 items)
 
 
CPUMotherboardGraphicsRAM
Q6600 @ 3.905 GHz Gigabyte GA-EP45-UD3R EVGA SuperClocked GTX 660 4GB Kingston Hyper X DDR 2 
Hard DriveHard DriveOptical DriveCooling
Western Digital VelociRaptor Western Digital Caviar Black 1 Pioneer AIO Prolimatech Megahalems 
OSMonitorKeyboardPower
7 Ultimate x64 ASUS VH232H Microsoft Rosewill CAPSTONE-650  
CaseMouseMouse Pad
Antec 300 [MOD IN PROGRESS] CM Xornet Elvis 
  hide details  
Reply
 
FPS Death Machine
(15 items)
 
 
CPUMotherboardGraphicsRAM
Q6600 @ 3.905 GHz Gigabyte GA-EP45-UD3R EVGA SuperClocked GTX 660 4GB Kingston Hyper X DDR 2 
Hard DriveHard DriveOptical DriveCooling
Western Digital VelociRaptor Western Digital Caviar Black 1 Pioneer AIO Prolimatech Megahalems 
OSMonitorKeyboardPower
7 Ultimate x64 ASUS VH232H Microsoft Rosewill CAPSTONE-650  
CaseMouseMouse Pad
Antec 300 [MOD IN PROGRESS] CM Xornet Elvis 
  hide details  
Reply
post #19 of 92
Hate the game, not the player.
Webcrawler
(17 items)
 
  
CPUMotherboardGraphicsRAM
i5 3570k ASRock Z75 Pro3 Sapphire 7870 XT Boost Corsair Vengeance, DDR3 1600Mhz 
Hard DriveHard DriveOSMonitor
SpinPoint F1 1TB 64GB M4 SSD Windows 8.1 SyncMaster P2050 
MonitorKeyboardPowerMouse
Dell U2312HM Sidewinder X4 Be Quiet! Pure Power CM L8 430w Zowie FK 
AudioAudio
Xonar DG Sennheiser HD 555 
  hide details  
Reply
Webcrawler
(17 items)
 
  
CPUMotherboardGraphicsRAM
i5 3570k ASRock Z75 Pro3 Sapphire 7870 XT Boost Corsair Vengeance, DDR3 1600Mhz 
Hard DriveHard DriveOSMonitor
SpinPoint F1 1TB 64GB M4 SSD Windows 8.1 SyncMaster P2050 
MonitorKeyboardPowerMouse
Dell U2312HM Sidewinder X4 Be Quiet! Pure Power CM L8 430w Zowie FK 
AudioAudio
Xonar DG Sennheiser HD 555 
  hide details  
Reply
post #20 of 92
Quote:
Originally Posted by Majin SSJ Eric View Post

Why is it that if a company tries to avoid a greedy government seizing its hard earned profits that's considered evil but a government that steals from everybody and then wastes all of it at a catastrophic pace is considered benevolent? You guys have a very backwards view of taxation and government. Besides, if you really believe that the government cannot function on $4 TRILLION per year then I wonder what exactly you think they should be paying for? Everything would be my guess... rolleyes.gif

Well, I for one agree with you. Our tax rates were among the lowest in history during the 80s and our economy prospered; raising corporate tax rates and opening free trade simply forces the hand of corporations to do what their share holders expect: profit maximization. There is also nothing our government can do about it unless they end free trade, so good luck with that. I also agree that tax laws and spending need to be fixed first, then we can examine corporate tax again.
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