Google Uses Loopholes to Cut Taxes by $3.1 Billion

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Oct. 21 (Bloomberg) -- Google Inc. cut its taxes by $3.1 billion in the last three years using a technique that moves most of its foreign profits through Ireland and the Netherlands to Bermuda. Google’s income shifting helped reduce its overseas tax rate to 2.4 percent, the lowest of the top five U.S. technology companies by market capitalization. Bloomberg's Melissa Long reports. (Source: Bloomberg)

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