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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.


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