A legal tax dodge also called the Double Irish. Profits are sent to Ireland which has a high tax rate. But, Ireland doesn't tax some payments made to other EU states, so the money is sent to a shell in the Netherlands. The Dutch have very low tax laws, so it is home free. The money is then routed to an Irish-owned subsidieary in Bermuda which is why it is called Double Irish. The corporation has only paid 0.2% of taxes in this process. What a deal!
Google made billions of dollars on it's overseas investments but used the Dutch Sandwich to pay a total of 2.5% in taxes on the profits!
by CrazyManNo9B December 28, 2010
by Jeanette February 16, 2004