Google is considering getting rid of its Bermuda subsidiary, according to a report in French newspaper Le Monde.

The Bermuda company employs no-one and has no physical presence on the Island. It is used by the technology giant to minimise its tax bill.

Reports in recent years have suggested that the Bermuda subsidiary has allowed Google to avoid billions in US taxes.

The report comes days after Ireland announced changes to its laws, which will stamp out the ‘Double Irish’ — a well established tax avoidance strategy.

Google’s version of this involves profits being channelled from one of its Irish subsidiaries to Bermuda. The Island earns no tax revenue from this as it has a zero percent tax rate on corporate profits.

However, the international media attention focused on how Google uses its Bermuda company to slash its effective tax rate has done no good to the Island’s reputation.

Le Monde said the biggest proponent of the plan to ditch the Bermuda subsidiary was chief financial officer Patrick Pichette.