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March 12, 2013

U.S. Firms Stashed $166 Billion Offshore in 2012, Shielding 40% of Annual Profits 
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A new report says U.S. companies are holding more of their profits in
overseas tax havens. The Wall Street Journal analyzed 60 major companies
and found they stashed a total of $166 billion offshore in 2012. That
move shielded more than 40 percent of their annual profits from U.S.
taxes. In several cases, the companies parked more earnings offshore
last year than they generated in net income.

 

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