Friday, April 26, 2013

Starbucks lobbies for foreign tax breaks | Economia

If the US Territory of Puerto Rico, with 3.5 million US citizens has been coded as a Foreign Country by this establishment so they have an offshore tax shelter for tax evasion with the benefit of US protection. This is a scam to the US Tax payer.

I also ask, if these companies, who make business in Puerto Rico make such extraordinary amount of money..... how come Puerto Ricans are under the poverty line with uneployment at >17% and per-capita at $14,000.

If this is so good for the economy, how come 600,000 persons left Puerto Rico in the last decade and relocated to one of the 50 states?
Miriam Ramirez
mjean1@gmail.com

Starbucks lobbies for foreign tax breaks:
Ahead of planned major reform of the US tax system, the coffee giant has written to the ways and means committee asking for its corporate tax level to be lowered from its current rate of 35%. In return, Starbucks said it was willing to forgo current tax breaks, on the proviso it could continue to defer tax on foreign sales of coffee beans and that taxes on royalty revenues could be deferred until the money is brought back to the US.