How one Large US corporation uses the well known "Double Irish" to pay only 2.4% tax
national |
anti-capitalism |
other press 
Friday October 22, 2010 17:23
by V for vendetta
As taxpayers are clenching up in anticipation of having wages cut and their basic services eviscerated and those on social welfare are expected to develop a taste for cheap baked beans on white bread, Here is a taste of how the corporate bloodsuckers are using our tax loopholes and playing countries off against each other to pay paltry amounts of tax.
As taxpayers are clenching up in anticipation of having wages cut and their basic services eviscerated and those on social welfare are expected to develop a taste for cheap baked beans on white bread, Here is a taste of how the corporate bloodsuckers are using our "well known" tax loopholes and playing countries off against each other to pay paltry amounts of tax.
Our politicians won't touch our 12% rate of tax while slashing social welfare yet it is clear from this example that one or two percent more would make precious little difference to these corporate cheats, some of whom pay a net average income tax of as little as 2.4% using a "well known" technique called the "double Irish".
Presumably this has been going on for quite a while and google is not alone in using this. No doubt they all are.
Full article here:
http://www.bloomberg.com/news/2010-10-21/google-2-4-rat....html
Here's an animated diagram of how the "Double Irish" is accomplished
http://www.businessweek.com/technology/google-tax-cut/g....html