Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes

Bloomberg reports that Google is really good at managing its taxes. Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes.

"Google Inc. cut its taxes by $3.1 billion in the last three years using a technique that moves most of its foreign profits through Ireland and the Netherlands to Bermuda. Google’s income shifting -- involving strategies known to lawyers as the ‘Double Irish’ and the ‘Dutch Sandwich’ -- helped reduce its overseas tax rate to 2.4 percent, the lowest of the top five U.S. technology companies by market capitalization, according to regulatory filings in six countries."