Posts Tagged ‘Tax Haven’

Nov
2014
19

U.S. Co’s Now Hold More Money Overseas Than Domestically; Tax Holiday May Not Help

U.S. Co's Now Hold More Money Overseas Than Domestically; Tax Holiday May Not Help
  An alarming stat has been released by Capital Economics, citing its own Audit Analytics database and other sources: U.S. companies are now stashing more than $2 trillion overseas.  Looking at the latest Federal Reserve flow of funds tally, corporations currently hold $1.9 trillion on U.S. shores, meaning there is potentially more money...
May
2014
15

Senate Panel Finds Caterpillar Has Avoided $2.4B in Taxes by Offshoring Profits

Senate Panel Finds Caterpillar Has Avoided $2.4B in Taxes by Offshoring Profits
  A newly released report from the Senate Permanent Subcommittee on Investigations shows that machinery giant and anti-union stalwart Caterpillar, Inc. avoided paying $2.4 billion in taxes by reorganizing its company to house the most profitable parts of its business in Switzerland.  The move is legal under current tax law but puts the...
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Apr
2014
2

Sen. Rand Paul Says Caterpillar “Deserves an Award” for Dodging $2.4B in Taxes

Sen. Rand Paul Says Caterpillar
  Testifying before the Senate Permanent Subcommittee on Investigations, representatives of Caterpillar, Inc. answered questions pertaining to a report that suggests the industrial giant has dodged $2.4 billion in taxes over the past decade.  Amazingly, the investigation’s discoveries split the subcommittee along partisan lines....
Feb
2014
6

Fixing the Broken System of Offshore Tax Havens? Easier Said Than Done.

Fixing the Broken System of Offshore Tax Havens? Easier Said Than Done.
  In politics, the populist message of ending corporate tax havens is easy to garner support for. Actually affecting policy to end the practice? Less easy. President Obama campaigned on closing these types of loopholes but still exist, perhaps as much as ever, and companies still take great advantage of them.  It’s a cycle with [&hellip...
Jan
2014
2

The Caymans. Ireland. South Dakota? Our Very Own Domestic Tax Haven Exposed.

The Caymans. Ireland. South Dakota? Our Very Own Domestic Tax Haven Exposed.
  South Dakota has become the “Bermuda of the prairie” as rich American families are renting store fronts in order to take advantage of state laws that effectively allow shielding of wealth from estate taxes…forever.  Zachary Mider’s Bloomberg piece reveals that in the past four years the amount of money administered by...
Oct
2013
28

Income at Tax-Safe Irish “Subsidiaries” of US Companies Ballooning at 20 Times the Rate of Job Growth

Income at Tax-Safe Irish
  While much of the corporate tax evasion crisis has been focused on the “Dutch sandwich,” Ireland’s role in helping multinational avoid paying American taxes could lead to the term becoming known as the “Black Pudding on Soda Bread.”  Well, maybe not. But this new infographic from Bloomberg shows how Ireland’s profits have...
May
2013
21

iHaven: From ’09-’12, Apple Successfully Shielded “At Least $74 Billion” in Tax Dollars from U.S. Treasury

iHaven: From '09-'12, Apple Successfully Shielded
According to a Senate Permanent Subcommittee on Investigations report issued Monday, Apple has avoided paying tens of billions of dollars in U.S. taxes by shifting money to offshore tax havens.  Apple has been able to cut some of its tax rates as low as 0.05% by using a complicated web of offshore entities.   Of [&hellip...