Sunday, August 19, 2012

Multinational Corporations shift income to low-tax countries to avoid or evade U.S. taxes (Puerto Rico?)

Report:"Information on Foreign-Owned but Essentially U.S.-Based Corporate Groups Is Limited” 
The GAO report, states that a multinational corporate group, whether U.S.-owned or foreign-owned, can generally shift income to subsidiaries in low-tax countries to avoid or evade U.S. taxes, even if the majority of their economic activity is in the U.S. However, use of a FCDC structure can provide a tax avoidance or evasion advantage over structures where U.S. parents own foreign subsidiaries. 
Washington, D.C. (PRWEB) August 19, 2012