500 us company maintained by 2.1 trillion dollars abroad to avoid taxes 10/10
500 us company maintained by 2.1 trillion dollars abroad to avoid taxes
News source: Ali Salman
Section: Economic page
October 10, 2015 8:52 am
A study published Tuesday, said that the top 500 us companies maintain more than $ 2.1 trillion in accumulated profits overseas to avoid u.s. taxes.
The companies will collectively about $ 620 billion of u.s. tax if the money returned to the United States.
The study found that two non-purposeful prepared us for profit, about three quarters of the companies listed in the Fortune 500 list of the largest us companies in terms of total revenue, with branches for tax havens in countries like Bermuda, Ireland, Luxembourg and the Netherlands.
The two groups were used — the citizens for tax justice, a group adiokshn it & Research-financial data submitted by the companies to the Securities and Exchange Commission, the us access to its results.
The study said that Apple technology keeps up to 98.35 billion dollars abroad in an amount greater than that held by any other American company and they condemn about 36.8 billion dollars of American tax if you attempt to bring the money to the United States from three branches of tax havens abroad.
It added that industrial giant GE accumulating 119 billion dollars in 18 tax havens abroad and that Microsoft software has a 72.2 billion dollars on five tax havens while Pfizer Pharmaceuticals reserves by about $ 74 billion in 151 branches abroad.
She noted that at least 358 companies, or about 72 percent of the Fortune 500 are running branches in areas of competence of tax havens by the end of 2014. All these companies and 300 fifty-eight at least 7622 branches for tax havens.