The End of Offshore Deferral?

The End of Offshore Deferral? | Neil Bass

Since the days of the Kennedy administration, U.S. multinational companies have been very successful in deferring taxation by shifting profits offshore. The Internal Revenue Code permits such deferral of taxation so long as you can legitimately take the position that a portion, or maybe even all, of your worldwide profits are earned outside of the U.S. So long as the cash remains outside of the U.S., the profits are not taxable in the U.S.

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