Google is under pressure from regulators and authorities around the world for not paying enough tax.
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Alphabet Inc.'s Google moved 15.9 billion euros ($19.2 billion) to a Bermuda shell company in 2016, regulatory filings in the Netherlands show – saving the company billions of dollars in taxes that year. Google uses two structures, known as a "Double Irish" and a "Dutch Sandwich," to shield the majority of its international profits from taxation. The amount of money Google moved through this tax structure in 2016 was 7 percent higher than the year before, according to company filings with the Dutch Chamber of Commerce dated Dec. 22 and which were made available online Tuesday. Google held $60.7 billion overseas at the end of 2016 on which it hadn't yet paid U.S. income taxes or "foreign withholding taxes," the company said in a filing with the U.S. Securities and Exchange Commission.That new tax, which begins at a rate of 10.5 percent, wouldn't apply in cases where a company's global effective tax rate is 13.125 percent or higher.
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