American companies are finding new overseas tax havens to legally protect some of their profits from the U.S. tax rate of 35 percent, among the highest in the world. Lesley Stahl reports.
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American companies are finding new overseas tax havens to legally protect some of their profits from the U.S. tax rate of 35 percent, among the highest in the world. Lesley Stahl reports.
source
And democrats want socialism
Uh oh lol don't compliment Canada too much
āLoopholes in the tax codeā š¤£š¤£š¤£
Trump brought the tex rate to 25% . . . In 2017! There you go Woke Liberals
They should be taxed at U.S source so the money can be given to illegal immigrants and homeless methadone users
For example an airline that goes an opens a letterbox office in a tax heaven to pay zero or little tax , solution is simple , if they want to pick up passengers from other countries, what government can do is to calculate their revenue from the country ( number of tickets sold to and from a specific country ) and charge them income tax based on that. ššŖ
Well tax the corporate then on their products and services higher in the country they are selling their products. That will sort it out.
Right now in September of 2021, Biden and the Democrats want to raise corporate income taxes again as part of their giant, bloated "infrastructure bill." Trump and the Republicans were finally able to get the rate dropped to 21% in 2017 as part of the Tax Cuts and Jobs Act, six years after this video aired. It was a huge boon to everyone. I can't believe the Dems want to raise rates again. It makes no economic sense, but they know their constituencies think corporations "don't pay their fair share," and so they play this as a social policy item. It's so reckless and stupid. All they want are votes and power. It's one of the core reasons I can't stand the Democrat party, and left-wingers in general. They view critical, pragmatic, non-partisan policy issues like corporate income tax rates through a social engineering lens and pit people against each other. Their latest stunt is pitting the vaccinated against the unvaccinated. It's completely devoid of leadership and problem solving. They're not serious people.
Go to 1209 North Orange Street Wilmington Delaware and you will find the exact same thing as in Zug, Switzerland to avoid state corporate income taxes and get the benefit of other Corporate friendly laws.
US companies apparently are able to do what simple US citizens cannot… ie move their tax base abroad. US citizen are taxed no matter where they live. Moving abroad will give you an insignificant exemption against your US tax liability. And you will have to pay taxes to the country where you are resident.
Ellos van a terminar broke ill make sure of that se van pal carajo. Si se piensa untouchables think again
The Cook islands allegedly has 21 trillion$ in untaxed money. As for corporate tax avoidance they have a fiduciary responsibility to maximize profits . They have no nationalistic responsibility according to their boards as the world is flat ,a flat tax, never mind topography . Their preference is that their employees be taxed and captured while they the frequent fliers are entitled to capital flight outsourcing and unlimited freedom . Were corporations taxed on how many people they employee lower for larger employers of employees the system might make more sense but the race to the bottom of responsibility in paying corporate taxes outweighs that responsibility when the sole allegiance is $$$ not the christian value of who is and how can I help my neighbor.
The š¦šŖ UAE is better. Thats why Halliburton moved its HQ there. Certain zones there have no tax at all.
….and?
Why would anyone come back to the US if you have a tax rate of 35%? Lowering it to 21% is purely trying to stay competitive. Donāt blame corporations, blame corrupt globalists.
Companies cant gain enough profits due to higher corporate taxes in the US.
i really feel that these incentives where meant to help the puerto rican people they dont break the rules but they break the spirit of the law. They should make it so that you have fifty percent of you employees are puerto rican residence.
So not only are they too incompetent to levy taxes, but when they attempt to pass legislation to get taxes paid, it just means that the jobs leave too.
What I find so hypocritical is most of these executives will champion high taxes for āfairnessā, while with the Panama papers you see how their business and personal wealth is out of the country!
I enjoy these segments, but I can't stand Leslie. Why does she always act surprised?
Still selling your products to US citizens…citizens buy your product and pay taxes on your products…Owners stay in USA…go figure? Thiefs…
Zug is where the Tezos Foundation is based??
India has enacted 'significant presence'-based tax laws which say you need to pay taxes in India if you have top management here or if you have operations here, if you have revenue-based activity here, etc.
It's very broad, and cuts off most of the routes taken by corporations to shift profits.
There is more $$$ to be made @ a 5% tax rate getting 100% of taxes owed than there is collecting 12% of taxes @ a 35% rate š
SIMPLE
greetings from Ireland
You goofy liberal pos news cbs
Taxation is theft
There should be no taxes not on company's or on people .the government should invest in the company's and collect profits like the rest of us have too.Then give the people the benefits .
For the Love of Money is the root to all evil.
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