Corporations May Use Loophole To Dodge Billions In U.S. Taxes
Politics 

Corporations May Use Loophole To Dodge Billions In U.S. Taxes

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According to a report by Reuters on Friday, a loophole in the new U.S. tax law could allow multinational corporations like Apple to avoid paying billions of dollars in taxes on profits invested overseas. Stephen Shay, a senior lecturer at Harvard Law School, claims that by manipulating their foreign cash positions, a determining factor under the new law, a U.S. multinational could potentially save money by shifting profits to the lower rate from the higher one. Shay claims that the savings could equal over four-billion-dollars in Apple’s case alone.
http://feeds.reuters.com/~r/reuters/topNews/~3/tvz5OGolK44/corporations-may-dodge-billions-in-u-s-taxes-through-new-loophole-experts-idUSKBN1F035Q

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