Bloomberg's Jesse Drucker explains how the world's most successful Internet search engine manages to cut its tax rate on its massive overseas profits by a sleight of hand worthy of a Times Square Three-Card Monte dealer (Ok, they don't have Three-Card Monte games in Times Square anymore, but they did. Just Google it.)
Team Google has improved on the card sharks, however, since the arrangement that lets it cut its taxes by $3.1 billion over the last three years is strictly legit, even if exceedingly greedy.
The methods include a couple of schemes so favored by tax planners that they have names for them, just like those belly-busters at the Carnegie Deli.
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