Google's Irish arm pays $51bn in dividends but not a cent in tax
An Irish arm of Google has paid dividends of $50.8bn (£38.3bn) over the past two years ahead of it losing the benefits of the so-called 'Double Irish' tax scheme.
The latest accounts show its profits were entirely tax free in 2018.
During 2019 dividends of $27.9bn (£21bn) were paid by Google Ireland Holdings Unlimited (GIHU) to the company's immediate parent.
Accounts just filed with the Companies Registration Office in Dublin by Google Ireland Holdings Unlimited show its tax bill in 2018 was zero, despite reporting profits for the year of $15.5bn (£11.7bn).
Google Ireland Holdings Unlimited is an Irish incorporated but Bermuda domiciled company, a controversial low tax structure based on a loophole in Irish tax rules that will shut this year and that has been dubbed the 'Double Irish with a Dutch Sandwich'. The scheme had previously allowed Google and other multinationals to slash their corporate tax bills to zero outside the US and to delay paying US taxes by routing profits through a complex structure of holding companies in Ireland, the Netherlands and Bermuda.