Google saved itself as much as $3.7 billion in 2016 by moving 16 billion euros between Ireland, the Netherlands, and Bermuda using infamous legal loopholes that allow it to skirt high tax responsibilities overseas, according to a report from Bloomberg. Citing regulatory filings in the Netherlands, Google uses two structures, known as a "Double Irish" and a "Dutch Sandwich," to shield the majority of its international profits from taxation. The setup involves shifting revenue from one Irish subsidiary to a Dutch company with no employees, and then on to a Bermuda mailbox owned by another Ireland-registered company.
With the price of Bitcoin reaching the peaks of $19,086 earlier today, it should come as no surprise the flood oof cryptocurrency-related news would reach the point of using the human body to mine crypto.
We’ve reached a point where a Dutch startup believes that human beings should be like they were in The Matrix, simply batteries to run the system. Founded in 2015, the Institute of Human Obsolescence (IoHO) is based in The Hague and presents itself as an organization devoted to exploring how individuals can capitalize on biological, and data production labor through art and research projects.
KLM has launched a Whatsapp service for businesses, allowing passengers to receive flight information through the messaging app.
The Dutch company has become the first airline out the gates with a presence on Whatsapp Business, a dedicated channel in which companies can reach out to their customers.
The Swiss banking group UBS has agreed to sell its domestic wealth management activities in the Netherlands to Van Lanschot Kempen, an arm of a Euronext Amsterdam-listed banking group that dates back to the 1700s.
Van Lanschot Kempen will pay an initial acquisition price of €28m, a joint statement reported, although the final price “may be higher or lower depending on the [asset management amount] that will actually transfer to Van Lanschot Kempen” once the deal completes.
Authorities in the Netherlands said the probe related to as many as 55,000 suspect accounts held at a Swiss bank, which officials refused to identify however Credit Suisse later released a statement to confirm its involvement in the investigation.
The statement did not identify the bank but Credit Suisse’s London, Paris and Amsterdam offices were contacted by local authorities over client tax matters, the Zurich-based banks confirmed on Friday, after Dutch prosecutors said they had seized assets and arrested two people in an international hunt for tax evaders, as Financial Times reported in the morning. Credit Suisse spokeswoman Anna Sexton declined to comment further.
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