Over 8 in 10 corporations have tax havens: Report from By Ken Thomas

giovonni · 01-17-2009, 10:58 AM

Over 8 in 10 corporations have tax havens
A report by Ken Thomas;

WASHINGTON (AP) - Eighty-three of the nation's 100 largest corporations, including Citigroup, Bank of America and News Corp. (NWSA), had subsidiaries in offshore tax havens in 2007, and some of the companies received federal bailout funding, a government watchdog said Friday.

The Government Accountability Office released a report that said Bank of America Inc., Citigroup Inc. (C) and Morgan Stanley (MS) all had more than 100 units in countries that maintain low or no taxes. The three financial institutions were included in the $700 billion financial bailout approved by Congress.

need more;
http://apnews.myway.com/article/20090116/D95OHIB80.html

01-17-2009, 10:58 AM	#1
giovonni Avalon Senior Member Join Date: Sep 2008 Location: within my heart Posts: 1,209	Over 8 in 10 corporations have tax havens: Report from By Ken Thomas Over 8 in 10 corporations have tax havens A report by Ken Thomas; WASHINGTON (AP) - Eighty-three of the nation's 100 largest corporations, including Citigroup, Bank of America and News Corp. (NWSA), had subsidiaries in offshore tax havens in 2007, and some of the companies received federal bailout funding, a government watchdog said Friday. The Government Accountability Office released a report that said Bank of America Inc., Citigroup Inc. (C) and Morgan Stanley (MS) all had more than 100 units in countries that maintain low or no taxes. The three financial institutions were included in the $700 billion financial bailout approved by Congress. need more; http://apnews.myway.com/article/20090116/D95OHIB80.html