Posted Dec. 10, 2012 at 9:12 a.m.
Google
San Francisco — By legally funneling profits from overseas subsidiaries into Bermuda, which doesn't have a corporate income tax, Google cut its overall tax rate almost in half. The amount moved to Bermuda is equivalent to about 80 percent of Google's total pretax profit in 2011.
Google avoids $2B in taxes by sheltering $10B in Bermuda
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Google
San Francisco — By legally funneling profits from overseas subsidiaries into Bermuda, which doesn't have a corporate income tax, Google cut its overall tax rate almost in half. The amount moved to Bermuda is equivalent to about 80 percent of Google's total pretax profit in 2011.
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Surely Google isn't the only company using this practice. I'm no big fan of theirs, but what about Apple and other corporations? We need those stories as well.
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