Saturday, February 19, 2011

US Companies Reported Hoarding Over $2 Trillion In Cash Overseas To Avoid World’s Highest Tax Rate In America

U.S. companies are taxed at up to 35% when they bring home the earnings generated through the operations of their overseas subsidiaries.
They get a credit for any taxes paid to foreign governments—but, since the corporate-tax rate in the U.S. is one of the world's highest, most companies are in no rush to bring the money back onshore.

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