What do "Double Irish" and "Dutch Sandwich" stand for? Not food, LOL. Hint: Taxes (Hint, hint: Tax Evasion ;)

Is this the Double Irish and Dutch Sandwich? Nah. Jokes! :)

From the link: http://economictimes.indiatimes.com/tech/internet/googles-googly-co-spins-away-9-8-bn-in-revenues-from-global-subsidiaries-to-tax-free-bermuda/articleshow/17563621.cms

Google Inc. has avoided billions of dollars in income taxes around the world using a pair of tax shelter strategies known as the Double Irish and Dutch Sandwich. These tricks, permitted under tax law in the US and elsewhere, move royalty payments from Google subsidiaries in Ireland and the Netherlands to a Bermuda unit headquartered in a local law firm.

In 2011, Google reported a tax rate of just 3.2% on the profit earned overseas, even as most of its foreign sales were in European countries with corporate income tax rates ranging from 26% to 34%.

Another Infographic from the link: http://www.nytimes.com/interactive/2012/04/28/business/Double-Irish-With-A-Dutch-Sandwich.html

3rd infographic:

Here are some details:

From the link: http://www.investopedia.com/terms/d/double-irish-with-a-dutch-sandwich.asp#axzz2FHOAsxDF

Definition of 'Double Irish With A Dutch Sandwich'
A tax avoidance technique employed by certain large corporations, involving the use of a combination of Irish and Dutch subsidiary companies to shift profits to low or no tax jurisdictions. The double Irish with a Dutch sandwich technique involves sending profits first through one Irish company, then to a Dutch company and finally to a second Irish company headquartered in a tax haven. This technique has allowed certain corporations to dramatically reduce their overall corporate tax rates.

The double Irish with a Dutch sandwich technique is just one of a class of similar international tax avoidance schemes. Each involves arranging transactions between subsidiary companies to take advantage of the idiosyncrasies of varied national tax codes. These techniques are most prominently used by tech companies because these firms can easily shift large portions of profits to other countries by assigning intellectual property rights to subsidiaries abroad.