Google moved 15.9 billion euros ($19.2 billion) to a Bermuda shell company in 2016, saving it billions of dollars in taxes that year, Bloomberg reported on Wednesday, quoting regulatory filings in the Netherlands.
Google uses two structures, known as a "Double Irish" and a "Dutch Sandwich", to shield the majority of its international profits from taxation, Bloomberg reported.
"The setup involves shifting revenue from one Irish subsidiary to a Dutch company with no employees, and then on to a Bermuda mailbox owned by another Ireland-registered company," it said.
The amount of money Google moved through this tax structure in 2016 was seven percent higher than the year before, according to company filings with the Dutch Chamber of Commerce dated December 22 and which were made available online Tuesday.
"We pay all of the taxes due and comply with the tax laws in every country we operate in around the world," Bloomberg quoted a Google spokesman as saying in a statement.
According to US financial filings, Google's global effective tax rate in 2016 was 19.3 percent, which it achieved in part by shifting the majority of its international profit to the Bermuda-based entity, the news agency continued.
Applying that tax rate, Google would have saved $3.7 billion via the 2016 transfer, it calculated.
With public coffers still strained years after the worst of the debt crisis, EU leaders have agreed to tackle the question of how to tax internet giants, with French President Emmanuel Macron slamming the likes of Google, Facebook and Apple as the "freeloaders of the modern world".
Today's tax rules were designed for when multinationals developed real assets and operations in different nations, making it relatively clear where taxes were paid.
But the US tech titans exist almost exclusively in the virtual world, their services piped through apps to smart phones and tablets from designers and data servers oceans away.
In accordance with EU tax rules, they choose to report income in an EU nation with low tax rates, depriving the others of millions if not hundred of million in tax revenue.
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Thank you for reaching out to us. We are happy to receive your opinion and request. If you need advert or sponsored post, We’re excited you’re considering advertising or sponsoring a post on our blog. Your support is what keeps us going. With the current trend, it’s very obvious content marketing is the way to go. Banner advertising and trying to get customers through Google Adwords may get you customers but it has been proven beyond doubt that Content Marketing has more lasting benefits.
We offer majorly two types of advertising:
1. Sponsored Posts: If you are really interested in publishing a sponsored post or a press release, video content, advertorial or any other kind of sponsored post, then you are at the right place.
WHAT KIND OF SPONSORED POSTS DO WE ACCEPT?
Generally, a sponsored post can be any of the following:
Press release
Advertorial
Video content
Article
Interview
This kind of post is usually written to promote you or your business. However, we do prefer posts that naturally flow with the site’s general content. This means we can also promote artists, songs, cosmetic products and things that you love of all products or services.
DURATION & BONUSES
Every sponsored article will remain live on the site as long as this website exists. The duration is indefinite! Again, we will share your post on our social media channels and our email subscribers too will get to read your article. You’re exposing your article to our: Twitter followers, Facebook fans and other social networks.
We will also try as much as possible to optimize your post for search engines as well.
Submission of Materials : Sponsored post should be well written in English language and all materials must be delivered via electronic medium. All sponsored posts must be delivered via electronic version, either on disk or e-mail on Microsoft Word unless otherwise noted.
PRICING
The price largely depends on if you’re writing the content or we’re to do that. But if your are writing the content, it is $60 per article.
2. Banner Advertising: We also offer banner advertising in various sizes and of course, our prices are flexible. you may choose to for the weekly rate or simply buy your desired number of impressions.
Technical Details And Pricing
Banner Size 300 X 250 pixels : Appears on the home page and below all pages on the site.
Banner Size 728 X 90 pixels: Appears on the top right Corner of the homepage and all pages on the site.
Large rectangle Banner Size (336x280) : Appears on the home page and below all pages on the site.
Small square (200x200) : Appears on the right side of the home page and all pages on the site.
Half page (300x600) : Appears on the right side of the home page and all pages on the site.
Portrait (300x1050) : Appears on the right side of the home page and all pages on the site.
Billboard (970x250) : Appears on the home page.
Submission of Materials : Banner ads can be in jpeg, jpg and gif format. All materials must be deliverd via electronic medium. All ads must be delivered via electronic version, either on disk or e-mail in the ordered pixel dimensions unless otherwise noted.
For advertising offers, send an email with your name,company, website, country and advert or sponsored post you want to appear on our website to omodjk(at)gmail(dot)com
Normally, we should respond within 48 hours.