Oxfam says corporations,using offshore havens, cheat poor nations of $100bn a year yet contain pushed for bigger US tax breaksDonald Trump’s plan to encourage US companies to repatriate profits held offshore will allow the 50 biggest American corporations to save at least $300bn (£240bn), and according to research by Oxfam.
The US president has promised that he will get America’s biggest companies to bring their huge offshore cash piles back to US soil by offering a one-off tax holiday. The plan is to tax repatriated money at 10% rather than at the statutory rate of 35%. Related: Trump tax slash plan will be as titanic 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