The New York Times > Business > World Business > Study Finds U.S. Companies Shifting Profits Overseas: "Study Finds U.S. Companies Shifting Profits Overseas
By DAVID CAY JOHNSTON
rom 1999 to 2002, American multinational corporations increased profits taken in countries with no taxes or low rates by 68 percent, while sharply reducing profits taken in countries where they engage in substantial business activity, a study to be published today in the journal Tax Notes shows.
In 2002, American companies took $149 billion of profits in 18 tax-haven countries, up 68 percent from $88 billion in 1999, according to Tax Notes, which analyzed the most recently available Commerce Department data. This compares with a 23 percent increase in total offshore profits earned by American multinationals during the same period."
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