Google in 2016 brought in offshore more than 19 billion dollars. Media

KIEV. 4 Jan. UNN. Google in 2016 translated to 15.9 billion euros (19.2 billion dollars) in the accounts of offshore companies registered in Bermuda to avoid paying billions of dollars in taxes by using legal schemes. This was announced by the publication Bloomberg , citing documents submitted by the company at the Dutch chamber of Commerce, reports UNN.

It is reported that for tax exemption the majority of the international profits, Google uses two schemas that have the informal name of “double Irish and Dutch sandwich”.

In particular, from the Irish “daughter” Corporation puts profit at the expense of “the firm” mailbox in the Netherlands, where funds arrive in the offshore company in Bermuda owned by another are registered in Ireland company.

According to media reports, the volume derived in this way means 2016 is 7% higher than the year before (2015).

“We pay all taxes and comply with tax laws in each country where we operate around the world. We continue to strive to help develop the online ecosystem,” – said the representative of Google.

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According to us financial reports, global effective tax rate Google in 2016 amounted to 19.3 per cent, partly achieved thanks to the fact that most of its international profits were transferred to the base of Bermuda.

Google Ireland Ltd. collects most of the profit from international company advertising, and then transfers these funds to the branches the Netherlands Google Netherlands Holdings BV. A subsidiary of Google in Singapore, which collects most of the revenue of the company in the Asia-Pacific region, the same.

Further, the Dutch company transfers the money to Google Ireland Holdings Unlimited, which has the right to license the intellectual property of the search giant outside the US. This company located in Bermuda, where no tax on profits of enterprises.