U.S. Companies Shelter 40 Percent Of Foreign Profits, Study Finds | HuffPost

The Trump tax cuts have had no real impact on any of the goals it was purportedly designed to achieve, including this one:

Multinational companies based in the U.S. and elsewhere hide close to 40 percent of their foreign profits in overseas tax havens, according to a new study, and the massive U.S. corporate tax cut is unlikely to change that.American companies are among the most aggressive in keeping billions of dollars in profits sheltered where it can’t be taxed by the U.S., and the so-called profit-shifting is the highest for U.S.-based multinationals, according to the study by economists at the University of Copenhagen and the University of California in Berkeley.In 2015, the study said, a total of more than $600 billion in profits were shifted to tax havens.

Source: U.S. Companies Shelter 40 Percent Of Foreign Profits, Study Finds | HuffPost

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