WILL THE MEDIA SKEWER A FRIEND OF THE WHITE HO– USE FOR THIS UN-AMERICAN TAX SCHEME?
Hey…I am just quoting Harry Reid when a company avoids taxes. You will not find this reported anywhere in our media. Read this:
Google chairman Eric Schmidt has insisted that he is “very proud” of the company’s tax structure, and said that measures to lower its payments were just “capitalism”.
Mr Schmidt’s comments risk inflaming the row over the amount of tax multinationals pay, after it emerged that Google funneled $9.8bn (£6.07bn) of revenues from international subsidiaries into Bermuda last year in order to halve its tax bill.
However, Mr Schmidt defended the company’s legitimate tax arrangements. “We pay lots of taxes; we pay them in the legally prescribed ways,” he told Bloomberg. “I am very proud of the structure that we set up. We did it based on the incentives that the governments offered us to operate.”
SOURCE: http://www.telegraph.co.uk