Google shifts €10b in royalties to tax haven of Bermuda via Netherlands
AMSTERDAM: Google shifted nearly €10bn in royalties to the tax haven of Bermuda via the Netherlands in 2013. That is almost €1bn up on 2012, the paper says. It bases its claims on an analysis of the annual reports of Dutch-registered Google Netherlands Holdings BV. Over €9bn came from Google Ireland Ltd, the Irish company which sells Google advertising worldwide.
That company pays a royalty for the use of the name and technology to its parent company. The money is pumped through the Netherlands to Google Ireland Holdings, the Bermuda-based company which owns Google’s intellectual property outside the US. Royalties are not taxed in the Netherlands. The rest of the money €767m comes from an Asian Google company, the Telegraaf says.
