The Daily Populous

Friday January 4th, 2019 morning edition

image for Google shifted $23 billion to tax haven Bermuda in 2017: filing

FILE PHOTO: An illuminated Google logo is seen inside an office building in Zurich, Switzerland December 5, 2018.

AMSTERDAM (Reuters) - Google moved 19.9 billion euros ($22.7 billion) through a Dutch shell company to Bermuda in 2017, as part of an arrangement that allows it to reduce its foreign tax bill, according to documents filed at the Dutch Chamber of Commerce.

The amount channeled through Google Netherlands Holdings BV was around 4 billion euros more than in 2016, the documents, filed on Dec. 21, showed.

“We pay all of the taxes due and comply with the tax laws in every country we operate in around the world,” Google said in a statement.

“Google, like other multinational companies, pays the vast majority of its corporate income tax in its home country, and we have paid a global effective tax rate of 26 percent over the last ten years.”.

The subsidiary in the Netherlands is 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.

Google Netherlands Holdings BV paid 3.4 million euros in taxes in the Netherlands in 2017, the documents showed, on a gross profit of 13.6 million euros. »

Apple says cheap battery replacements hurt iPhone sales

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Last year, Apple admitted it was throttling older iPhone models to compensate for degrading batteries that caused the phones to sometimes shut down.

And once Apple admitted it was throttling older iPhone models, users became more informed on how to turn the feature off.

Update January 2nd, 6:16PM ET: This article previously incorrectly stated that Apple stopped throttling older iPhone models. »

Tim Cook will host meeting for all Apple employees to talk iPhone

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Tim Cook is reportedly hosting an all-hands meeting with every Apple employee today about the revelations regarding stalling iPhone sales.

The news caused Apple shares to plummet in after-hours trading, taking some Apple suppliers with it.

As part of the meeting, Cook will spell out what the news means, and take questions from employees. »

Texas has enough sun and wind to quit coal, Rice researchers say

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Texas is one of the only places where the natural patterns of wind and sun could produce power around the clock, according to new research from Rice University.

Texas is the largest producer of wind energy in the United States, generating about 18 percent of its electricity from wind.

In the summer, Gulf Coast wind generation could overtake West Texas wind capacity from about 1 p.m. to 8 p.m. when sea breezes kick in, Rice research showed. »

Google sluist 19,9 miljard euro weg via Nederland

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Google gebruikte in 2017 een Nederlandse holding om 19,9 miljard euro naar Bermuda weg te sluizen, een gebied dat bekendstaat als belastingparadijs.

Dit concludeert de krant op basis van de jaarrekening van Google Netherlands Holdings, die eind december bij de Kamer van Koophandel (KVK) werd gedeponeerd.

Het onderdeel heeft geen werknemers en is bedoeld om onder meer royalty's naar Google Ireland Holdings over te kunnen maken. »