Google avoided roughly $2 billion in income taxes worldwide by funneling nearly $10 billion into a Bermuda shell company last year. By using the off-shore tax shelter Google was able to cut their tax rate nearly in half and saved about 80% of the company’s pre-tax profit. The off-shore tax shelter practice is legal in the United States. Margaret J. Howell and Jose Marcelino Oritz discuss Googles taxes and off-shore accounts on The Lip News.
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