60 Minutes: Why are U.S. companies moving to tax havens
Here's a video of Lesley Stahl reports why U.S. companies are avoiding the statutory corporate tax rate of 35% by moving to countries that have far less lower corporate tax rates. Check it out!
As a freshman, I was lucky enough to be able to take part in a Marshall Schools of Business LINC (Learning about International Commerce) trip to Dublin, Ireland. On this trip, I learned about the reason several U.S. international companies were headquartered in Ireland. I had never heard of this before the trip, and was surprised by how many companies were doing this. We visited Microsoft, Ebay, Sun Microsystems, and many other big name companies. The corporate tax rate in Ireland is 10%, which is much better than the tax rates in the U.S., leading many companies to take advantage of moving their headquarters to Ireland. By having a lower tax rate, companies are able to save millions of dollars, thereby increasing their profit. No wonder there are so many companies trying to avoid the 35% tax rate.
As a freshman, I was lucky enough to be able to take part in a Marshall Schools of Business LINC (Learning about International Commerce) trip to Dublin, Ireland. On this trip, I learned about the reason several U.S. international companies were headquartered in Ireland. I had never heard of this before the trip, and was surprised by how many companies were doing this. We visited Microsoft, Ebay, Sun Microsystems, and many other big name companies.
ReplyDeleteThe corporate tax rate in Ireland is 10%, which is much better than the tax rates in the U.S., leading many companies to take advantage of moving their headquarters to Ireland. By having a lower tax rate, companies are able to save millions of dollars, thereby increasing their profit. No wonder there are so many companies trying to avoid the 35% tax rate.