Google & taxes
Whoever is in charge of European tax governance, whether it is by the countries themselves or the European Union, is, well, crazy. They’ve made it entirely possible for pan-European companies to funnel back profits into EU jurisdictions which have a low corporation tax regime. And yet the press in each country bleats like a sheep, every time someone points this fact out. Today’s controversey was that Google, which has around 90% market share of the UK search market and a large share across other European countries, will not pay any corporation tax on its £1.6bn advertising revenues in Britain. It has a network of subsidiares across Europe, all of them feeding back to its European HQ in Ireland where it does pay corporation tax.
Why would Google not pay as little tax as possible?
Le développement du commerce électronique : quel impact sur les finances publiques ?
2. L'impôt sur les sociétés : le problème de la localisation de la création de richesse et de l'optimisation fiscale L'impôt sur les sociétés est au coeur des difficultés soulevées par la localisation de la richesse créée par le commerce électronique. En effet, le système international en vigueur pose le principe selon lequel les revenus produits sur un territoire y sont taxés. Mais, la dématérialisation des services pose la question du lieu où sont créés les revenus, battant ainsi en brèche le principe fiscal français de territorialité de l'impôt.
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Google Inc. cut its taxes by $3.1 billion in the last three years using a technique that moves most of its foreign profits through Ireland and the Netherlands to Bermuda. Google’s income shifting -- involving strategies known to lawyers as the “Double Irish” and the “Dutch Sandwich” -- helped reduce its overseas tax rate to 2.4 percent, the lowest of the top five U.S. technology companies by market capitalization, according to regulatory filings in six countries.
Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes
Google's European headquarters in Dublin, where it moved three years after in an apparent bid to profit from Ireland's controversial low corporate tax rate. Photograph: Bloomberg via Getty Images WPP chief executive Sir Martin Sorrell revealed on Thursday that he was probably going to return the firm's tax base to the UK , three years after it moved to Dublin in an apparent bid to profit from Ireland 's controversial low corporate tax rate. Corporate tax – which is 12.5% in Ireland, less than half the current UK level of 28% – has been the subject of some blunt discussion in Europe in the past few weeks: with Nicolas Sarkozy and Angela Merkel have demanded that Ireland increases the rate in return for a renegotiation of its IMF/EU bailout. But any compromise on the corporate tax rate is off the agenda at today's European summit.
If Google is in Ireland for tax reasons, why are most of its profits in Bermuda? | Business
