US profit shifting costing billions
September 07, 2011
Salman Shaheen TPW
A US policy group said US companies avoided approximately $60 billion in corporate tax in 2010 through various means, including transfer pricing, and have added 44 substantial new subsidiaries in tax havens.
The report by the Greenlighting Institute, an American policy research organisation, claims that eight of the top 12 companies effectively paid no federal income taxes from 2008 through 2010.
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