Tuesday 16 August 2022

Google shifted €16bn through the Netherlands in 2016: FD

Internet giant Google shifted €16bn in royalties through the Netherlands in 2016, up €1bn on 2015, the Financieele Dagblad said on Tuesday.

The paper bases its claim on filings by Google Netherlands Holding with the Dutch chamber of trade.

Most of the money comes via Google Ireland Limited, which runs the Google online advertising network. The rest – €3.7bn – comes from Google Asia Pacific, the FD said.

All ends up with Google Ireland Holdings, which is based in Bermuda where no corporate taxes are paid.

The set up, known as a ‘double Irish with a Dutch sandwich’ is completely legal but much criticized by fair taxation campaigners.

The FD also points out that the Google BV, which has no staff, made net profit of €12.5m in the Netherlands in 2016 and paid €3.1m in corporate taxes.

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