Saturday 15 May 2021

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.

How it works

Thank you for donating to DutchNews.nl

The DutchNews.nl team would like to thank all the generous readers who have made a donation in recent weeks. Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments.

DutchNews.nl has been free for 14 years, but without the financial backing of our readers, we would not be able to provide you with fair and accurate news and features about all things Dutch. Your contributions make this possible.

If you have not yet made a donation, but would like to, you can do so via Ideal, credit card or Paypal.