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

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