Google routed nearly €23 billion in sales through Ireland last year

first_img Take me to Fora Get Fora’s NEW daily digest of the morning’s key business news: GOOGLE FUNNELED MORE than €22.6 billion in sales from across Europe and other territories through its Irish subsidiary last year – a near-one-quarter increase on the 2014 tally.Newly filed accounts for the search giant’s local arm, Google Ireland, also show the company paid €47.8 million in corporate tax to the Exchequer after the vast majority of its profits were eaten away in assorted administrative expenses.The subsidiary recorded a gross profit of €17.1 billion for the year, up nearly 27% on the 2014 tally, but costs also rose as more money was transferred out in royalties to another, unspecified Google firm. The company’s net profit stood at €293.5 million.Google Ireland accounts for its US parent company’s sales for Europe, the Middle East and Africa, as well as operating two data centres located in the Republic.The documents also show that the company directly employed 2,934 people at the end of 2015 – a 6% increase on the total workforce 12 months earlier.More than two-thirds of the workforce were employed in sales and marketing, with the remainder split between admin, engineering and operations roles.The accounts also note that the company spent €111 million on research, development and engineering during the year. Taoiseach Enda Kenny and Google Ireland head Ronan Harris Source: Sam Boal/RollingNews.ieA key driverIn a statement, Google vice president Ronan Harris, who is moving from the Dublin office to London to oversee both the company’s UK and Irish operations, said the local operation was “recognised as a key driver of growth among our customers”.He said the company was also supporting the Irish startup community through projects like its Google for Entrepreneurs partnership with Dogpatch Labs.In addition to the 3,000-odd people the company employs directly, Harris said it also had “in the region” of 3,000 staff in contracted positions.Written by Peter Bodkin and posted on Google routed nearly €23 billion in sales through Ireland last year The company paid €48m in corporate tax after most of the money went to royalties and other costs. Tweet thisShare on FacebookEmail this article Friday 4 Nov 2016, 9:35 PM Image: Niall Carson/PA Wire 11,593 Views Share23 Tweet Email1 Image: Niall Carson/PA Wire 59 Comments Nov 4th 2016, 9:35 PM By Fora Staff Short URL last_img