Sunday 23 April 2017

Google saved $3.6bn in global taxes in 2015 through 'Double Irish' strategy

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Independent.ie Business Desk

Independent.ie Business Desk

ALPHABET'S Google saved $3.6bn (€3.45bn) in worldwide taxes in 2015 by moving €14.9bn to a Bermuda shell company, new regulatory filings in the Netherlands reveal.

The amount the company shifted through its Dutch subsidiary, Google Netherlands Holdings, and then on to a Bermuda mailbox was 40pc greater than in 2014, according to filings the company made with the Dutch Chamber of Commerce.

Alphabet moves the bulk of its non-US profits through this Dutch subsidiary.

The company has used the Netherlands company since 2004 as part of a tax structure dubbed a "Double Irish" and a "Dutch sandwich."

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