1 JOINT PROJECTS WITH ASIAN DEVELOPMENT BANK TO BE IMPLEMENTED WWW.MONTSAME.MN PUBLISHED:2018/10/17      2 MONGOLIA TO SPEED UP IMPLEMENTATION OF CHINA-FUNDED PROJECTS WWW.MONTSAME.MN PUBLISHED:2018/10/17      3 US MOVES TO NEGOTIATE TRADE DEALS WITH JAPAN, UK, EU WWW.BBC.COM PUBLISHED:2018/10/17      4 CONSTRUCTION OF MONGOLIA’S NEW OIL REFINERY IS 40 PERCENT COMPLETED WWW.NEWS.MN PUBLISHED:2018/10/17      5 MONGOLIA TO EXPORT LIVE SHEEP, GOATS NEXT YEAR WWW.XINHUANET.COM PUBLISHED:2018/10/17      6 REGIONAL LOGISTICS CENTER PUTS INTO OPERATION WWW.MONTSAME.MN PUBLISHED:2018/10/17      7 PAUL AKIWUMI: MONGOLIA HAS POTENTIAL TO BE THE MOST HIGHLY DEVELOPED COUNTRY AMONG LANDLOCKED COUNTRIES WWW.MONTSAME.MN PUBLISHED:2018/10/17      8 MET: WE CHOSE AN OPTION THAT LESS AFFECTS CITIZENS’ HEALTH WWW.ZGM.MN PUBLISHED:2018/10/17      9 RIO TINTO SAYS Q3 PRODUCTION FALLS ON PLANNED MAINTENANCE AND SAFETY PAUSES WWW.MINING.COM PUBLISHED:2018/10/16      10 AUSTRALIAN FIRM ACQUIRES CENTERRA GOLD ASSETS IN MONGOLIA WWW.ZGM.MN PUBLISHED:2018/10/16      GOOGLE ЕВРОПЫН ГАР УТАС ҮЙЛДВЭРЛЭГЧДЭЭС ПРОГРАМЫН ТӨЛБӨР АВАХААР БОЛЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2018/10/17     УГЖ Г.АРИУНБААТАР АСЕМ-ЫН ЗОЧДОД ТОГЛОЛТОО ТОЛИЛУУЛНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/10/17     СОЛОНГОС УЛСАД ХАРЛАСАН ИРГЭДИЙН ЗОРЧИХ ЭРХИЙГ 10 ЖИЛЭЭР ХАСНА WWW.DNN.MN НИЙТЭЛСЭН:2018/10/17     WEF: МОНГОЛ УЛС ӨРСӨЛДӨХ ЧАДВАРААРАА 140 УЛСААС 99 ДҮГЭЭРТ БИЧИГДЭВ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2018/10/17     МОНГОЛ УЛСЫН ХӨГЖЛИЙН БАНКНЫ БОНДЫН ХЭМЖЭЭ 500 САЯ АМ.ДОЛЛАР, ХУГАЦАА НЬ 5 ЖИЛ БАЙХААР ТОГТЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/10/17     2019 ОНООС БАНКУУД ХЭРЭГЛЭЭНИЙ ЗЭЭЛИЙГ ХАМГИЙН ИХДЭЭ 30 САРЫН ХУГАЦААТАЙ ОЛГОНО WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/10/17     ШУУДАНГИЙН САЛБАРТ ИНТЕРНЭТ БОЛОН ЦАХИМ СҮЛЖЭЭНД СУУРИЛСАН ШИНЭ ҮЙЛЧИЛГЭЭГ ХЭРХЭН ЗОХИЦУУЛАХЫГ ХУУЛЧИЛЖ ӨГЧЭЭ WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/10/17     ЧЕХИЙН АВТОМАШИНЫ ҮЙЛДВЭР МОНГОЛООС АЖИЛЛАХ ХҮЧ АВАХАА ИЛЭРХИЙЛЭВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/10/17     ДАРХАН, СЭЛЭНГЭ, ТӨВ, ХӨВСГӨЛИЙН АЛТ ТУШААГЧИД НИЙСЛЭЛИЙГ ЗОРИХ ШААРДЛАГАГҮЙ WWW.GOGO.MN НИЙТЭЛСЭН:2018/10/16     МӨНГӨНИЙ НИЙЛҮҮЛЭЛТИЙН ӨСӨЛТӨД ТӨГРӨГ, ВАЛЮТЫН ХАРИЛЦАХ, ТӨГРӨГИЙН ХАДГАЛАМЖ ГОЛЛОН НӨЛӨӨЛЖЭЭ WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2018/10/16    

Google avoided billions in taxes by funneling money offshore www.rt.com

Alphabet Inc.'s Google managed to save $3.6 billion in 2015 by shifting its profits to a Bermuda shell company, according to filings in the Netherlands. Google used Ireland and the Netherlands as intermediaries.

According to files obtained by Bloomberg, Google used the so-called "Double Irish" and a "Dutch Sandwich" tax avoidance method.

The scheme is complicated. First, Google’s taxes outside the US are sent to Ireland to Google Ireland Limited. Then, the profits are sent to the Netherlands, which is also acknowledged for low corporate taxes.

Then, the money is sent from the Dutch subsidiary to a Bermuda shell company known as Google Ireland Holdings Unlimited, which has no employees but has the rights to Google's intellectual property.

Bloomberg further reported that using the tax avoidance scheme Google sent 40 percent more of its profits in 2015 than in 2014. In total, Google has sheltered $58.3 billion from US taxation, according to parent company Alphabet’s filings.

While Ireland closed the loophole last year, corporations may still enjoy it until 2020.

The report may be of interest to the EU antitrust chief Margrethe Vestager, who has recently been tackling inappropriate behavior of US companies on the European market.

Just on Tuesday, the European Commission found Facebook guilty of providing misleading information before winning approval to buy the WhatsApp messenger in 2014. The company is facing a fine of up to one percent of annual sales.

In August, Apple was fined €13 billion after a European investigation concluded Ireland provided the iPhone maker with a favorable tax rate.

Vestager is also digging into major US corporations like McDonald’s, Starbucks and Chrysler.



Published Date:2016-12-22