Search giant Google has announced a new company structure and a new name that will cut in half the time it takes its accountants to fill out taxation forms.
“We’re all about speed. So we figured by making our name the same as our taxation status, we’ll have more time to focus on other things,” a spokesperson for the company said.
Google last year paid an estimated $5 million tax in Singapore, on the $2 billion revenue it earned in Australia.
The announcement of the new structure was made on social media platform Google+ in April, with the news quickly spreading to other channels today.