Google used a tax loophole to shelter $19.2B
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Google used a tax loophole to shelter $19.2B
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Re: Google used a tax loophole to shelter $19.2B
#2Does anyone have more context on why Ireland's loophole will take so long to close? I suspect they're worried about externalities and retooling costs for entities obeying the spirit of tax law but it seems like they could put monetary thresholds that lower yearly rather than an all or nothing in 2020.
e.g. Why not say "new tax code applies to any company doing >$1B worth of business in 2018, >$500M in 2019, and all companies in 2020?"
Just curious if there's well-thought out reasons that this doesn't work.
Re: Google used a tax loophole to shelter $19.2B
#3"regulatory filings show that Google shielded €15.9 billion (about $19.2 billion) in 2016 using the popular "Dutch Sandwich" tax trick, saving it about $3.7 billion in taxes."
Re: Google used a tax loophole to shelter $19.2B
#4When this loophole exists, it's tough to blame Google for not taking advantage of it. You may as well ask them to donate their profits to the federal government.
Re: Google used a tax loophole to shelter $19.2B
#5Does anyone have more context on why Ireland's loophole will take so long to close? I suspect they're worried about externalities and retooling costs for entities obeying the spirit of tax law but it seems like they could put monetary thresholds that lower yearly rather than an all or nothing in 2020. e.g. Why not say "new tax code applies to any company doing >$1B worth of business in 2018, >$500M in 2019, and all c…
Loopholes do not exist. There is only the law (and people who are smart enough to figure out a way to place themselves outside of the application of said law).
Generally the EU gives member states the right to grandfather certain arrangements because it would be hard to restructure everything in a few months. Most countries use a 3 or 4 year grandfathering period. The same thing applies to the old IP regime (IP income is 80% exempt from corporate tax) that exists in Luxembourg.
Google will just rearrange their affairs, like Apple has, to avoid taxation. It doesn't really matter -- there always tends to be another way.
Re: Google used a tax loophole to shelter $19.2B
#6There are no such things as tax loopholes. There is compliance with the law as Congress has written with all of their agendas, and there is noncompliance.
Re: Google used a tax loophole to shelter $19.2B
#7"regulatory filings show that Google shielded €15.9 billion (about $19.2 billion) in 2016 using the popular "Dutch Sandwich" tax trick, saving it about $3.7 billion in taxes."
Must've been hell of a sandwich.
Re: Google used a tax loophole to shelter $19.2B
#8Does anyone have more context on why Ireland's loophole will take so long to close? I suspect they're worried about externalities and retooling costs for entities obeying the spirit of tax law but it seems like they could put monetary thresholds that lower yearly rather than an all or nothing in 2020. e.g. Why not say "new tax code applies to any company doing >$1B worth of business in 2018, >$500M in 2019, and all c…
It’s really hard to answer questions like this with anything other than ”status quo benefits the rich”.
Re: Google used a tax loophole to shelter $19.2B
#9Does anyone have more context on why Ireland's loophole will take so long to close? I suspect they're worried about externalities and retooling costs for entities obeying the spirit of tax law but it seems like they could put monetary thresholds that lower yearly rather than an all or nothing in 2020. e.g. Why not say "new tax code applies to any company doing >$1B worth of business in 2018, >$500M in 2019, and all c…
Loopholes do not exist. There is only the law (and people who are smart enough to figure out a way to place themselves outside of the application of said law). Generally the EU gives member states the right to grandfather certain arrangements because it would be hard to restructure everything in a few months. Most countries use a 3 or 4 year grandfathering period. The same thing applies to the old IP regime (IP incom…
These loopholes abuse the tax codes of multiple nations. They absolutely are loopholes that ignore the spirit of the law.
Re: Google used a tax loophole to shelter $19.2B
#10There are no such things as tax loopholes. There is compliance with the law as Congress has written with all of their agendas, and there is noncompliance.
Sure, but there are also ways for governments to close these loopholes as well. It's not necessarily on tech companies to solve, but it is up to the government and its citizens to ask for change (if this does not follow the spirit of the law).