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Many companies pay less in US taxes than they do on overseas profits
On Thu, 03 Nov 2011 08:42:39 -0400, Drifter 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. |
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