Nearly two thirds of the top 100 contractors doing business with the U. S. federal government have subsidiaries in tax haven countries which could be used to avoid paying income taxes, it has been claimed.
“While the offshore subsidiaries may be technically legal under current law, numerous studies have found that many are little more than a post office box set up to allow corporations to move profits to the low-tax or no-tax havens, rather than reporting that income in the United States,” stated U. S. Senators Byron Dorgan (Democrat, North Dakota) and Carl Levin (Democrat, Michigan).
Tax avoidance is rampant, claim US Senators
21 years ago
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ExxonMobil Fluor Corporation Halliburton Tyco International Ltd. WorldCom