Good Democrat Firm Google Uses Shell Company in Bermuda to dodge $2 billion in taxes
By funneling nearly $10 billion in revenue into a Bermuda shell company last year, Google dodged about $2 billion in income taxes worldwide, Bloomberg News reports, citing financial records.
The off-shore tax shelter — legal in the United States and elsewhere — cut Google's tax rate nearly in half, Bloomberg says. Bermuda has no corporate income tax. Bloomberg says the amount saved was about 80% of the company's pre-tax profit. . . .