Google: the abuse goes on

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As the FT report this morning:

Google funnelled €8.8bn of royalty payments to Bermuda last year, a quarter more than in 2011, underlining the rapid expansion of a strategy that has saved the US internet group billions of dollars in tax.

By routing royalty payments to Bermuda, Google reduces its overseas tax rate to about 5 per cent, less than half the rate in already low-tax Ireland, where it books most of its international sales.

The abuse goes on.

This story has come a long way since I did the first review of Google's tax for a newspaper in 2009.

But the abuse still goes on. And that's why international tax reform has to remain on the political agenda.