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
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
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 two left-leaning non-profit groups, found that nearly three-quarters of the firms on the Fortune 500 list of biggest American companies by gross revenue operate tax haven subsidiaries in countries such as Bermuda, Ireland, Luxembourg and the Netherlands.
Share with us your feedback on BT's products and services
TRENDING NOW
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
‘Largest Singapore commercial S-Reit proxy’: analysts say buy CICT shares after Paragon acquisition
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
