\"\"

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.

READ MORE:

US investment in Ireland reaches record high

Google launches suicide prevention measures in Ireland

COMMENTS

Log in with your social accounts:

Or, log in with your IrishCentral account:

Forgot your password ?

Don't have an account yet? Register now !

Join IrishCentral with your social accounts:


Already have an account ?

For Newsletter Subscribers – Draw for 1 Prize on December 31st.

Prize: Your Piece of Ireland – a Square of Land in the heart of the Glens of Antrim, Ireland

More details here (or you can buy a little piece of Ireland directly): http://bit.ly/1zew9ox

Terms & Conditions

Or, sign up for an IrishCentral account below:

By clicking above you are indicating that you have read & agree to our Terms and Privacy Policy.


Make sure we gathered the correct information from you

By clicking above you are indicating that you have read & agree to our Terms and Privacy Policy.


You already have an account on IrishCentral! Please confirm you're the owner.


Our new policy requires our users to save a first and last name. Please update your account: