Economy News

 

U.S. Companies Hold $2 Trillion Overseas To Avoid Taxes

U.S. Companies Hold $2 Trillion Overseas To Avoid Taxes

(Undated)  --  U.S. multinational businesses are holding about two-trillion dollars overseas to keep their tax costs down.  

A study by Bloomberg News finds that American companies are keeping more money outside the U.S. because they're taxed again when they bring foreign earnings back to this country for investment or dividends.  

Microsoft, Apple, and IBM accounted for more than 18 percent of foreign deposits over the past year.   

 

More Articles