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US firms hold US$2.1t in profits offshore to avoid taxes: Study

Apple has US$181.1b offshore, more than any other US company

Taxes3213.jpg
A detail of "Taxes" is seen on the side of the Internal Revenue Service (IRS) headquarters in Washington, D.C., U.S., on Wednesday, April 9, 2014. The deadline for filing 2013 U.S. taxes is April 15.

Washington

THE 500 largest American companies hold more than US$2.1 trillion in accumulated profits offshore to avoid US taxes and would collectively owe an estimated US$620 billion in US taxes if they repatriated the funds, according to a study released on Tuesday.

The study, by

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