Google shifted $23B in overseas cash to Bermuda tax haven in 2017, report says

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Google used a popular tax avoidance scheme to move $22.7 billion in foreign revenue into an offshore tax haven in 2017, Reuters reports, citing new data from the Dutch Chamber of Commerce. For years, tech giants Google, Apple Inc., Microsoft Corp., Cisco Systems Inc. and Oracle Corp. have used what’s known as the “Double Irish with a Dutch Sandwich” to reduce their global tax bill, by funneling all foreign revenue into an Irish subsidiary, who sends it to a Dutch subsidiary, and back to a...

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