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+ - Google makes $1bn a year in Australia; pays just $74k tax->

Submitted by daria42
daria42 (866794) writes "Looks like Apple isn't the only company with interesting offshore taxation practices. The financial statements for Google's Australian subsidiary show the company told the Australian Government it made just $200 million in revenue in 2011 in Australia, despite local industry estimating it actually brought in closer to $1 billion. The rest was funnelled through Google's Irish subsidiary and not disclosed in Australia. Consequently the company only disclosed taxation costs in Australia of $74,000. Not bad work if you can get it — which Google apparently can. About that 'don't be evil' motto? Yeah. Not so much."
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Google makes $1bn a year in Australia; pays just $74k tax

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