Google's US$2bn tax bill dodge sparks outrage

Google avoided about US$2 billion in worldwide income taxes last year by shifting US$9.8 billion in revenues into a Bermuda shell company, filings show.

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 per cent of Google's total pretax profit last year.

via Business feed http://www.scmp.com/business/companies/article/1102501/googles-us2bn-tax-bill-dodge-sparks-outrage