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Submission + - Google makes $1bn a year in Australia; pays just $74k tax (delimiter.com.au)

daria42 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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