Google is giving up a controversial loophole that let it delay paying US taxes for years
The Trump administration's 2018 Tax Cuts and Jobs Act also means US company profits made and taxed overseas are not subject to US taxation.Google's parent company, Alphabet, will no longer use an intellectual-property licensing scheme, known as the "Double Irish, Dutch sandwich," which allowed it to delay paying US taxes, 2018 tax filings show.
"A date of termination of the Company's licensing activities has not yet been confirmed by senior leadership, however management expects that this termination will take place as of 31 December 2019 or during 2020," the Dutch filing said. "We're now simplifying our corporate structure and will license our IP from the US, not Bermuda," a spokesman said in a statement.
The subsidiary in the Netherlands was used to shift revenue from royalties earned outside the United States to Google Ireland Holdings, an affiliate based in Bermuda, where companies pay no income tax.
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