According to the FT this morning:
Three US companies seeking to use controversial takeovers to cut their US tax bills hold at least $21bn in “trapped” offshore cash that the deals could unlock.
According to data compiled by Moody's for the Financial Times, the biggest offshore cash piles held by companies pursuing so-called “tax inversions” belong to Medtronic, a medical devices group; AbbVie, a drugmaker; and Applied Materials, a technology group.
I could spend ages explaining how and why this works. Thankfully I don't have to. Pulitzer prize winning journalist David Cay Johnston has done it in Newsweek.
Can I strongly recommend it's worth a visit to read his article?
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
There are links to this blog's glossary in the above post that explain technical terms used in it. Follow them for more explanations.
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
Buy me a coffee!
