Google Ireland legally transfers profits to Bermuda tax haven
Google Ireland paid only $5.6 m in corporation tax for 2010, despite reporting more than $10bn turnover.
Most of Google's revenue is routed out of Ireland in a legal tax scheme known as the "Double Irish." The company reportedly transfers profits from the Irish business to a tax haven in Bermuda, which ensures that the company pays far less tax than it would normally do.
The "Double Irish" tax efficiency, which is completely legal, allows profits from a multi-national to be routed through Ireland to a tax haven without being liable for corporation tax in Ireland.
Accounts show that Google Ireland Limited made a pre-tax profit of €18.5m last year, nearly two-thirds less than in 2009.
After-tax profit fell to €1.7m compared to €30.2m in 2009 but turnover increased by €2.2bn to €10.1bn.
The rise in turnover was offset by an increase in administrative expenses, which rose from €5.5bn to €7.2bn.
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Blimey, Chuck! Sounds like what is going on in the construction industry in the UK now happened 30 years ago in the USA. Can't say we weren't warned..Racist incidents in Ireland up by 85 percent says Immigrant Council
Wow...........with a population of 4,600,000 in the Republic and approximately 15% non national its obviously a huge problemRacist incidents in Ireland up by 85 percent says Immigrant Council
Plus you have 3-5 million people of Irish ancestry living in the island of Britain as well. Most of the people I went to school with were sons and dauRacist incidents in Ireland up by 85 percent says Immigrant Council
EamonnDublin: Well, let's take Australia, for instance. The main body of people who are the descendants of the settlers there are known as Anglo-Celts