Google Steps Away from Using Bermuda for Tax-Planning Strategy

Google will change its corporate structure in 2020 to license intellectual property from the U.S. instead of Bermuda, the company said.

The move represents a step away from the tax-planning strategies that many multinationals, particularly in IP-dependent industries like tech, have relied on. Increased public scrutiny, combined with changes in domestic laws and crackdowns from international bodies like the Organization for Economic Cooperation and Development and the European Union, are bringing pressure on companies to undo aggressive tax planning structures.

“In line with the OECD’s BEPS conclusions and changes to U.S. and Irish tax laws, we’re now simplifying our corporate ...