Latest News for: Offshore tax shelter

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Reports show corporations and ultra rich get the benefits without paying the taxes

People's World 08 Apr 2021
Their tactics included outright underreporting of 21.8% of their income, and tax shelters for a lot of the rest, its writers added ... taxes in offshore havens such as the Cayman Islands, and other methods they use to hide their hoards ... corporations found ways to shelter their profits ...
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Republicans claim Biden $2tn infrastructure plan a partisan tax hike

The Observer 04 Apr 2021
“The problem with this particular plan, though, is although the Biden administration is calling it an infrastructure plan, it looks more like a $2tn tax hike plan, to me ... Biden proposes funding his plan by raising corporate tax rates and making it more difficult for corporations to utilize offshore tax shelters.
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Biden’s tax plans get qualified welcome from Neal

Irish Independent 02 Apr 2021
US Representative Richard Neal, the top Democrat for tax policy in the House, offered only ... Mr Biden’s plan would raise the US corporate income tax rate to 28pc from 21pc and make it harder for companies to use offshore tax shelters and other means to reduce their tax burdens.
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'Every step of the way': Republican Mitch McConnell pledges battle over Biden infrastructure plan

Straits Times 01 Apr 2021
Meanwhile, a key House of Representatives Democrat said lawmakers could significantly change the tax proposals included in Biden's plan ... Biden wants to cover the cost of the plan by raising corporate tax rates and making it harder for the companies to use offshore tax shelters.
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'Every step of the way': Republican McConnell pledges battle over Biden US$2 trillion infrastructure plan

Straits Times 01 Apr 2021
Meanwhile, a key House of Representatives Democrat said lawmakers could significantly change the tax proposals included in Biden's plan ... Biden wants to cover the cost of the plan by raising corporate tax rates and making it harder for the companies to use offshore tax shelters.
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'Every step of the way': McConnell pledges battle over Biden infrastructure plan

Hindustan Times 01 Apr 2021
Biden has proposed funding the package by raising the tax rate on US corporations to 28% from 21% and making it harder for companies to use offshore tax shelters and other methods to reduce their tax burdens. McConnell warned that "massive tax increases" would harm the economy and said the package's spending level could run up the debt.
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‘Every step of the way’: McConnell pledges battle over Biden infrastructure plan

Metro USA 01 Apr 2021
At a news conference in Owensboro, Kentucky, McConnell said the Biden proposal underscores deep philosophical differences between Republicans and Democrats over taxes and the national debt ... corporations to 28% from 21% and making it harder for companies to use offshore tax shelters and other methods to reduce their tax burdens.
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U.S. House tax chief offers partial support for Biden infrastructure tax plan

Metro USA 01 Apr 2021
corporate income tax rate to 28% from 21% and make it harder for companies to use offshore tax shelters and other means to reduce their tax burdens ... Neal said he has spoken to Treasury Secretary Janet Yellen about his own approach, which includes “new market” tax credits, a low-income tax credit and an expansion of others.
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UPDATE 3-The hard part: Biden infrastructure-linked tax hikes face hurdles in Congress

Yahoo Daily News 01 Apr 2021
corporate tax rate to 28%, from its current 21%, to secure more revenue from corporations that have used offshore tax shelters and other measures to reduce their tax burdens.  ... corporations to relocate their headquarters to lower-tax countries for tax purposes or to shift profits overseas.
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Now the hard part: Biden tax hikes face hurdles in Congress

Hindustan Times 31 Mar 2021
The plan, which Biden will unveil at an event in Pittsburgh later on Wednesday, would hike the US corporate tax rate to 28%, from its current 21%, to secure more revenue from corporations that have used offshore tax shelters and other measures to reduce their tax burdens.
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The hard part: Biden infrastructure-linked tax hikes face hurdles in Congress

Metro USA 31 Mar 2021
corporate tax rate to 28%, from its current 21%, to secure more revenue from corporations that have used offshore tax shelters and other measures to reduce their tax burdens. Senate Minority Leader Mitch McConnell said he was “not likely” to support the package if it included those tax hikes.
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Biden's infrastructure and climate plan emerges as congressional wrangling begins

The Keene Sentinel 31 Mar 2021
Biden’s tax plan is expected to raise the corporate tax rate from 21 percent to 28 percent, end federal subsidies for fossil fuel companies and increase the global minimum tax paid from about 13 percent to 21 percent, as well as other measures aimed at taxing corporations that shelter profits offshore to avoid taxes.
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Inside Kelly Loeffler's offshore tax shelter scheme

Alternet 21 Nov 2020
tax laws, ICE created an offshore entity in the Cayman Islands, and registered it in a building known as Ugland House — one of the most notorious locations for offshore tax shelters ... Offshore tax evasion costs Americans tens of billions of dollars every year.
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Kelly Loeffler’s offshore tax shelter scheme

Raw Story 21 Nov 2020
This article first appeared in Salon. To help those clients […] .
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Kelly Loeffler marketed derivatives during Great Recession at world's most notorious tax haven

Democratic Underground 21 Nov 2020
tax laws, ICE created an offshore entity in the Cayman Islands, and registered it in a building known as Ugland House — one of the most notorious locations for offshore tax shelters ... of an offshore tax dodge in the world — sharpens questions about the company's true intent.
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