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September 13, 2004
Tax Notes: U.S. Multinationals Shifting More Profits to Low-Tax Havens Overseas, Keeping Them From U.S. Tax Collectors
U.S. multinational corporations are increasingly shifting tens of billions of dollars of their profits to such tax havens as Bermuda, Ireland, Luxembourg and Singapore, keeping those profits from U.S. tax collectors, according to an eye-opening piece in today's Tax Notes magazine.

Martin A. Sullivan of Tax Analysts, the publisher of Tax Notes, found that profits of foreign subsidiaries of U.S. corporations in 18 tax havens soared from $88 billion in 1999 to $149 billion in 2002.

Questions raised are:

  • Is the shift in profits to tax havens bringing a corresponding shift in U.S. jobs to those jurisdictions?
  • What does the shifting of profits mean for the long-term future of our corporate tax system?
Contact us to see Sullivan's piece,
Data Shows Dramatic Shift of Profits to Tax Havens.

About Tax Analysts

Tax Analysts is an influential provider of tax news and analysis for the global community. Over 150,000 tax professionals in law and accounting firms, corporations, and government agencies rely on Tax Analysts' federal, state, and international content daily. Key products include Tax Notes, Tax Notes Today, State Tax Notes, State Tax Today, Tax Notes International, and Worldwide Tax Daily. Founded in 1970 as a nonprofit organization, Tax Analysts has the industry's largest tax-dedicated correspondent staff, with more than 250 domestic and international correspondents. For more information, visit our home page.