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Google shifted US$23bil to tax haven Bermuda in 2017: filing


For more than a decade the arrangement has allowed Google owner Alphabet to enjoy an effective tax rate in the single digits on its non-U.S. profits, around a quarter the average tax rate in its overseas markets. — Reuters

For more than a decade the arrangement has allowed Google owner Alphabet to enjoy an effective tax rate in the single digits on its non-U.S. profits, around a quarter the average tax rate in its overseas markets. — Reuters

AMSTERDAM: Google moved €19.9bil (RM93.88bil or US$22.7bil) through a Dutch shell company to Bermuda in 2017, as part of an arrangement that allows it to reduce its foreign tax bill, according to documents filed at the Dutch Chamber of Commerce.

The amount channelled through Google Netherlands Holdings BV was around €4bil (RM18.87bil) more than in 2016, the documents, filed on Dec 21, showed.

   

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