dstates writes: Bloomberg reports that Google is using Bermuda shell companies to avoid paying billions of dollars in taxes world wide. By routing payments and recording profits in zero tax havens, multinational companies have been avoiding double digit corporate taxes in the US and Europe. Congressional hearings were held in July on the destructive consequences of off shoring profits. Why aren't the US and Europe exerting more diplomatic pressure on these tax havens that are effectively stealing from the US and European treasuries by allowing profits that did not result from activities in Bermuda or the Cayman Islands to be recorded as occurring there?
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