Google Inc. (GOOG) avoided about $2 billion in worldwide income taxes in 2011 by shifting $9.8 billion in revenues into a Bermuda shell company, almost double the total from three years before, ...

A report suggests that Google has collected profits generated and, using Ireland and the Netherlands, transferred them to an account in Bermuda to avoid taxes potentially up to US$1bn per year.

There's a fascinating article by Lisa O'Carroll in the UK Guardian newspaper about corporate taxes and how Google [GOOG] uses Bermuda and Dublin, Ireland to shelter taxes. Here's how it works: - ...