Thread: Many companies pay less in US taxes than they do on overseas profits
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First recorded activity by BoatBanter: Oct 2011
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Default Many companies pay less in US taxes than they do on overseasprofits
On 11/3/11 1:32 PM, Wayne.B wrote:
On Thu, 03 Nov 2011 08:42:39 -0400, wrote:

I wonder why corporations leave the US tax haven and move to far off
places? Harry knows the answer but he won't admit it.

======

It's not that simple. A lot of Fortune 500 companies are
multi-nationals meaning that they do business internationally and
generate profits in different countries/currencies. If they
repatriate that money back to the US they get hit with double
taxation, first where they earned it, and again here when they bring
it back. A lot of them would like to bring profits back but not at
the cost of double taxation.


Beardsley's corporate apologetica continues.
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