Google's (legal) $60B tax evasion
Google ought to give its accountants a raise.
According to a startling new report from Bloomberg, some creative accounting between the tech giant’s international divisions meant the company’s corporate tax rate shrunk to just 2.4 per cent overseas – as much as 23 per cent less than other major businesses are forced to pay.
By one U.S. professor of economics’ estimate, such elusive practices may have cost the American government some $60 billion in tax revenue.