Google receives $8 BILLION/yr in profits at PO Box 666, Bermuda tax haven- 0% Corporate Tax rate

[nationalize the fed]

The post box in Bermuda numbered 666 which receives Google profits worth £8BILLION a year

Tim Sculthorpe, Mailonline Deputy Political Editor
Published: 31 January 2016

*Google has no offices or staff in Bermuda but sends billions of profit there
*Island has a 0 per cent rate of corporation tax and is used as a tax haven
*But Google claims it has no 'permanent base' in the UK despite vast offices
*Britain lobbied EU not to put sanctions on Bermuda for sheltering tax


Web: This is Google's complicated web of holding companies that allows the web giant to reduce its international tax bill. Google US has set up two Irish companies, one of which revolves around a PO Box numbered 666 based in Bermuda, with a middle company in the Netherlands

Google has no office, no staff and little more than a plain PO Box numbered 666 on the sunny Caribbean Island of Bermuda.

But it still sends £8billion in profits a year to the island - which happens to have a 0 per cent corporation tax rate.

Google's communications chief Peter Barron today insisted the billions of pounds funnelled from the search engine's global network of subsidiaries had no impact on the firm's tax bill in Britain.

But after a week dominated by criticism of an agreement between Google - which once had the slogan 'Don't be Evil' - and HMRC to pay just £130million in back taxes for the past decade details of the company's arrangement on Bermuda are set to shock.


Reception: Adorned with Union Flags, visitors are met here but Google still maintains it has no 'permanent' UK base

Google's tax bill in Britain is held down by the firm's insistence it has no 'permanent' base here - on the basis all sales in Europe are made via Dublin.

But Google has five major offices in Britain and 5,000 staff working here...snip
Read More: http://www.dailymail.co.uk/news/article-3425097/Don-t-evil-Google-sends-profits-worth-8BILLION-year-post-box-number-666-tax-haven-island-Bermuda.html

Also at link: FACEBOOK PAYS JUST 4% ON ITS CORPORATION TAX BILLS AROUND THE WORLD

Facebook's fractional corporate tax bills are set to fuel a scandal over corporate tax avoidance.

The social media giant paid £4,327 in UK corporation tax in 2014 - despite revenues in Britain of more than £700million.

And it has emerged it paid just £86million to all tax authorities outside the United States despite reeling in profits of around £2.4 billion.

The figures suggest Facebook pays around 4 per cent in corporation tax around the world...snip more
http://www.dailymail.co.uk/news/article-3425097/Don-t-evil-Google-sends-profits-worth-8BILLION-year-post-box-number-666-tax-haven-island-Bermuda.html

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Google shelters $8 BILLION /yr in an offshore tax haven but a Mom working 2 jobs must dot every I and cross every T on her tax returns or will face endless harassment from the IRS. Is there no one that can stop this complete madness? NO ONE?????????????????????

[WhaTHellsgoingonhere]

1. Uber as well. All because countries haven't changed codes with respect to businesses

that don't have a physical presence. It's welfare. It's government subsidies for the most lucrative industry.

[LiberalArkie]

2. It is just money laundering.

[TubbersUK]

3. Shameful n/t

[Wilms]

4. "Do no 666" n/t

[TM99]

5. So does Apple. So does Facebook.

So do a lot of these large tech corporations. We need a systemic change.

Sanders is the only one offering real and meaningful change on this topic. Clinton will not. Sadly, even Trump says he will so that shows you how different even Clinton is from that assbag.

[KamaAina]

6. That's a hell of a lot of money that California and $iliValley could sorely use.

For one thing, we could use the $$$ to bold affordable housing so the people who answer the phones and dish out the food at the fancy corporate cafeterias do not have to commute in from an hour or more away.

[TM99]

7. Indeed.

We could, and will under Sanders, repatriate some of that taxable income so that we can afford healthcare and public college education. This is part of his plan.

[KamaAina]

8. Box 666? Could it be...

[LittleBlue]

9. Irish double with a Dutch sandwich

Gotta love these tech companies and their patent royalties. Not sure there is any way to stop it. You take punitive measures and they just invert like Pfizer did.

[nationalize the fed]

10. ^

Here's some of the money that could fund something useful like Bernie's health plan