You don’t become a “tech giant” for nothing…

What do many of America’s tech giants have in common? They’re really good at exploiting international tax laws and loopholes to enhance overall profitability.

We’ve talked about the shenanigans of Microsoft and HP here:

Forget Fairness, Let’s Talk About Stupidity (TRB)

But let’s not leave out Google, who has become the Michael Jordan of sheltering income from the collectors, around the world…

From Bloomberg:

Google Inc. (GOOG) avoided about $2 billion in worldwide income taxes in 2011 by shifting $9.8 billion in revenues into a Bermuda shell company, almost double the total from three years before, filings show.

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.

Google paid a tax rate of 2.3% on overseas business last year, according to the story, even though most of that revenue was done in European countries with corporate tax rates of around 30%.

Gangsta.

Source:

What's been said:

Discussions found on the web
  1. Bitcoin Loophole Review commented on Sep 23

    … [Trackback]

    […] Read More here to that Topic: thereformedbroker.com/2012/12/10/you-dont-become-a-tech-giant-for-nothing/ […]

  2. sigma vape shop commented on Oct 30

    … [Trackback]

    […] Read More Information here to that Topic: thereformedbroker.com/2012/12/10/you-dont-become-a-tech-giant-for-nothing/ […]

  3. What is Quality Engineering commented on Nov 11

    … [Trackback]

    […] Information to that Topic: thereformedbroker.com/2012/12/10/you-dont-become-a-tech-giant-for-nothing/ […]

  4. SimilarCams commented on Nov 25

    … [Trackback]

    […] Read More here to that Topic: thereformedbroker.com/2012/12/10/you-dont-become-a-tech-giant-for-nothing/ […]

  5. devops consultants commented on Nov 28

    … [Trackback]

    […] Find More to that Topic: thereformedbroker.com/2012/12/10/you-dont-become-a-tech-giant-for-nothing/ […]

  6. online banking commented on Dec 06

    … [Trackback]

    […] Find More to that Topic: thereformedbroker.com/2012/12/10/you-dont-become-a-tech-giant-for-nothing/ […]

  7. 링크모야 commented on Dec 18

    … [Trackback]

    […] Info to that Topic: thereformedbroker.com/2012/12/10/you-dont-become-a-tech-giant-for-nothing/ […]

  8. Functional testing solutions commented on Dec 19

    … [Trackback]

    […] Find More here to that Topic: thereformedbroker.com/2012/12/10/you-dont-become-a-tech-giant-for-nothing/ […]

  9. Altec Lansing VS4621 manuals commented on Jan 23

    … [Trackback]

    […] Find More on that Topic: thereformedbroker.com/2012/12/10/you-dont-become-a-tech-giant-for-nothing/ […]

  10. Get the facts commented on Feb 02

    … [Trackback]

    […] Read More on that Topic: thereformedbroker.com/2012/12/10/you-dont-become-a-tech-giant-for-nothing/ […]