America winning some more today! Bayer to Cut 12,000 Jobs

Oct 2010
67,335
27,225
Colorado
#2
This is what we're seeing thanks to Trump's Tax Cuts and Jobs Act. US companies paying half the corporate rate - 10.5 percent or less - on overseas profits.


How U.S. tax reform rewards companies
that shift profit to tax havens
The corporate tax cut passed by U.S. President Donald Trump and fellow Republicans that was in part designed to help dissuade U.S. companies from moving profits overseas may instead make the practice a lot more rewarding.
That is because companies which shifted profits linked to U.S. sales, research or production previously had to pay U.S. taxes on the money at the rate of 35 percent when they brought those profits home.​
The new tax bill cuts the overall corporate tax rate to 21 percent, and allows income from overseas to be taxed at about half that rate – to as low as 10 percent.​
AbbVie Inc. (ABBV.N) is a case in point.​
Its Chief Executive Richard Gonzalez told investors earlier this year that because of the change to a territorial system, whereby only profits reported by domestic subsidiaries face U.S. tax, the U.S. drugmaker expects its tax rate to fall to 9 percent this year from around 22 percent in recent years.​

More: How U.S. tax reform rewards companies that shift profit to tax havens | Reuters
 
Dec 2013
33,688
19,321
Beware of watermelons
#5
Wait, isn't Bayer one of the most evil (non tech) corporations in the world?

I would think them hitting a bump would be something that the leftists applauded.

You guys are so weird.
 
Likes: Jimmyb
Apr 2013
37,525
25,579
La La Land North
#7
Wait, isn't Bayer one of the most evil (non tech) corporations in the world?

I would think them hitting a bump would be something that the leftists applauded.

You guys are so weird.
Or more probably you really don't have half a clue about what "leftists" are and want.
 
Likes: leekohler2