How Companies Dodge $60 Billion in Taxes Yearly

According to a study published in December in the National Tax Journal by Kimberly A. Clausing, an economics professor at Reed College in Portland, Oregon, $60 billion in annual U.S. tax revenue are lost to thousands of companies through a technique known as transfer pricing — the corporate equivalent of the secret offshore accounts — which legally lets businesses avoid some income taxes by converting sales in one country to profits in another — on paper only. Bloomberg

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

Be the first to comment

Leave a Reply

Your email address will not be published.


*

This site uses Akismet to reduce spam. Learn how your comment data is processed.