{"id":25970,"date":"2014-09-08T08:01:02","date_gmt":"2014-09-08T07:01:02","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=25970"},"modified":"2014-09-08T08:01:02","modified_gmt":"2014-09-08T07:01:02","slug":"us-corporations-are-taking-the-worlds-tax-system-for-a-ride","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2014\/09\/08\/us-corporations-are-taking-the-worlds-tax-system-for-a-ride\/","title":{"rendered":"US corporations are taking the world&#8217;s tax system for a ride"},"content":{"rendered":"<p>According <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/c122f9e6-3566-11e4-a2c2-00144feabdc0.html#ixzz3Chl0oFfo\" target=\"_blank\">to the FT this morning:<\/a><\/p>\n<blockquote><p>Three US companies seeking to use controversial takeovers to cut their US tax bills hold at least $21bn in \u201ctrapped\u201d offshore cash that the deals could unlock.<\/p>\n<p data-track-pos=\"0\">According to data compiled by Moody\u2019s for the Financial Times, the biggest offshore cash piles held by companies pursuing so-called \u201ctax inversions\u201d belong to\u00a0Medtronic, a medical devices group;\u00a0AbbVie, a drugmaker; and\u00a0Applied Materials, a technology group.<\/p>\n<\/blockquote>\n<p style=\"text-align: left;\" data-track-pos=\"0\">I could spend ages explaining how and why this works. Thankfully I don't have to. <a href=\"http:\/\/www.newsweek.com\/corporate-deadbeats-how-companies-get-rich-taxes-268303\" target=\"_blank\">Pulitzer prize winning journalist David Cay Johnston has done it in Newsweek.<\/a><\/p>\n<p style=\"text-align: left;\" data-track-pos=\"0\">Can I strongly recommend it's worth a visit to read his article?<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2014\/09\/08\/us-corporations-are-taking-the-worlds-tax-system-for-a-ride\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64,1,75],"tags":[],"class_list":["post-25970","post","type-post","status-publish","format-standard","hentry","category-corporation-tax","category-uncategorized","category-usa"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/25970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=25970"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/25970\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=25970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=25970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=25970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}