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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    How do companies avoid paying their taxes?

    Rocky
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    • Post n°1

    How do companies avoid paying their taxes? Empty How do companies avoid paying their taxes?

    Post by Rocky Sun 26 Aug 2018, 1:51 am

    How do companies avoid paying their taxes?



    How do companies avoid paying their taxes? 9618

    Five out of 293 US companies - 28.5 percent of the total of $ 2.6 trillion in foreign profits in 2017 - are profiting from tax evasion.
    What are tax fiesta? Is a state or state in which taxes are very low or non-existent, or where financial secrecy laws are applied, where any effective exchange of information about taxpayers is prevented or where transparency is completely absent from legislative, legal and administrative practices or does not require any activities Actual registration meeting of companies.
    Together, these definitions reveal how taxpayers can evade paying the profits of a high-tax country to one of the tax hubs where they own a subsidiary (often a fake) and record the profits in them, that is, hiding local profits as profits A subsidiary of the parent company and registered in a tax haven.
    The tax, which is dodged by 500 US companies on the Fortune list , is estimated at about $ 100 billion a year, according to a study by the Institute for American Tax and Economic Policy 2017. The study shows that US multinational companies have collected 59% of their foreign profits from ten Tax-exempt countries, and 43% of them are from five countries, with only 4% of the total foreign labor force employed in these companies, representing only 7% of their total foreign investment.
    Of the 500 companies, 366 (73%) have one or more registered companies in tax-free countries, and the other 144 have no information about any foreign company, either because they do not have branches in the tax fiefdoms, or Simply because they do not disclose it.
    According to data from 293 companies out of the 500 companies, they made a profit of $ 2.6 trillion last year, double the profit achieved in 2010. The five most profitable companies accounted for $ 740.344 billion, representing 28.5% Of total realized profits.
    1. Apple is ranked first among the most profitable companies in its offshore companies located in tax-haven countries. It made Apple a profit of $ 246 billion, paid by a tax rate of 4%, while evaded paying $ 76.7 billion of US tax on these profits. The company has three branches registered in Ireland. According to a US Senate inquiry, Apple has found two companies there to transfer profits to America. According to a European Commission report,Apple paid only 0.005% of its earnings in Ireland in 2014.
    Pfizer , the world's largest drug maker, was ranked second on the list , with branches in tax parks earning $ 198.9 billion. Pfizer owns 157 branches in tax havens, most notably in the Netherlands (64 companies), Luxembourg (28 companies) and Ireland (27 companies). It relies on accounting techniques to convert its taxable profits abroad. Low or no tax, and when these drugs are sold in the United States, their fees are paid abroad, which turns domestic profits into foreign profits.
    Microsoft comes in third among the most profitable companies in the tax frenzy. Microsoft has five branches in the tax haven countries: Ireland (3 companies), Singapore (one company) and Luxembourg (one company), with a total foreign profit of about $ 142 billion, which paid taxes of 3% and evaded about $ 45 billion.
    4. General Electric is ranked fourth, with a foreign profit of about $ 82 billion.The company has 22 branches in the countries of tax jurisdictions, most notably in the Netherlands (8 companies), Singapore and Luxembourg (3 companies in each country).
    5 - International Business Machines, which has 18 branches in tax-tax countries, most notably in the Netherlands (3 companies), Singapore, Switzerland (two companies in each country) and Bahrain (one company).With a profit of $ 71.4 billion.

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