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 That's the spirit: Companies shelter billions outside the US

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RR Phantom

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That's the spirit: Companies shelter billions outside the US Vide
PostSubject: That's the spirit: Companies shelter billions outside the US   That's the spirit: Companies shelter billions outside the US Icon_minitimeSat Nov 29, 2014 9:17 pm
They are all companies that call Minnesota home: Medtronic, 3M, St Jude Medical, General Mills and Ecolab. But they also all hold 90 per cent or more of their cash outside the United States.

Amid a growing national political debate over corporate tax avoidance, some of the Twin Cities' biggest corporate citizens are accumulating giant stockpiles of money beyond America's borders and, therefore, beyond the reach of the Internal Revenue Service.

Hoarding foreign cash has become an increasingly popular - and completely legal - shelter for many of the US' major corporations as they lobby for reforms that will lower their tax bills. But the strategy keeps billions of dollars on the sidelines that could otherwise go toward US capital investments, jobs, and research and development. It also reduces federal revenue by billions of dollars.

https://au.finance.yahoo.com/news/companies-shelter-billions-outside-us-000106105.html
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