Experts such as the economist Martin Sullivan, formerly with the - TopicsExpress

Experts such as the economist Martin Sullivan, formerly with the US Treasury Department and now at Washington-based Tax Analysts, have found that havens enable many profitable American multinationals to pay little or no tax. Over the last five years, for example, Prudential paid taxes of only 7.6 percent of profits; Yahoo, 7 percent; Boeing, 4.5 percent; and the Carnival cruise firm exploited an obscure loophole enabling it to incorporate in tax haven Panama and pay taxes of only 1.1 percent on $11 billion in profits. But no increase in wages.

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