Just how much money do tech companies shelter from taxes? Quite a lot, according to the Dutch. Newly published Netherlands regulatory filings show that Google shielded €15.9 billion (about $19.2 billion) in 2016 using the popular “Dutch Sandwich” tax trick, saving it about $3.7 billion in taxes. The maneuver involves shifting revenue from an Irish subsidiary to a Dutch firm with no staff, and promptly moving the funds to a Bermuda mailbox owned by another Ireland-listed company. And this practice isn’t slowing down — Google moved 7 percent more cash through this approach in 2016 than it did a year earlier.
After digging into Donald Trump’s financial disclosures and corporate filings, The Wall Street Journal found that the president-elect’s two planes and three helicopters are clouded in strange, convoluted business practices designed to save the real estate mogul millions in taxes.
A report published Saturday by The New York Times shed light on thenotoriously opaque financial operations of Republican presidential nominee Donald Trump, who has garnered substantial negative attention in recent weeks for not releasing his tax returns.
So this is absolutely insane.
Barcelona star Neymar was reportedly found guilty of tax evasion by the Federal Revenue court in Brazil this week and ordered to pay back taxes, interest, and other penalties. And while he’s hardly the first professional athlete to get hit with a massive tax bill, Neymar’s debt is unbelievably large. It totals about 188.8 million Brazilian reales, which works out to more than $52 million. In case you didn’t catch that, we said $52 MILLION.
We’re used to meeting deadlines, and few deadlines are more dreaded than the annual rush to April 15th. If you are used to meeting deadlines, you may not want to delay it. You may even feel guilty when you get an automatic reprieve. Don’t. There’s no shame in an extension, and millions are processed every year.