Today's Hard|Forum Post
Today's Hard|Forum Post

Friday February 19, 2016

Google Moved $12B Via Double Irish Dutch Sandwich In 2014

I don't care what you say, $12 billion is a lot of double Irish Dutch sandwiches. Do you ever wonder who makes up the names for these tax strategies?

Google moved 10.7 billion euros ($12 billion) through the Netherlands to Bermuda in 2014, as part of a structure which allows it to earn most of its foreign income tax free. Accounts for Google Netherlands Holdings BV published on Thursday show the unit transferred almost all its revenue, mainly royalties from an Irish affiliate through which most non-U.S. revenue is channeled, to a Bermuda-based, Irish-registered affiliate called Google Ireland Holdings. The tax strategy is known to accountants as the "double Irish, Dutch Sandwich'.