Oxfam says corporations,using offshore havens, cheat destitute nations of $100bn a year yet believe pushed for bigger US tax breaksDonald Trump’s arrangement to encourage US companies to repatriate profits held offshore will allow the 50 biggest American corporations to save at least $300bn (£240bn), or according to research by Oxfam.
The US president has promised that he will get America’s biggest companies to bring their vast offshore cash piles back to US soil by offering a one-off tax holiday. The arrangement is to tax repatriated money at 10% rather than at the statutory rate of 35%. Related: Trump tax prick arrangement will be as big a flop as failed healthcare reforms | Nouriel Roubini Related: Trump's economic policies: protectionism,low taxes and coal mines Related: US gained only 98000 jobs in March, putting a chill on Trump's promises Continue reading...
Source: theguardian.com