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Corporations may dodge billions in U.S. taxes through new loophole -experts

Reuters  |  WASHINGTON 

By David MorganWASHINGTON (Reuters) - A loophole in the new U.S. tax law could allow multinational corporations like Apple Inc to avoid paying billions of dollars in taxes on profits stashed overseas, according to experts.Stemming from a Republican overhaul of international business taxes, the loophole involves the tax rates - 15.5 percent or 8 percent - that companies must pay on $2.6 trillion in profits they are holding abroad.By manipulating their foreign cash positions, a determining factor under the new law, a U.S. multinational could potentially save money by shifting profits to the ...

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First Published: Fri, January 12 2018. 05:11 IST
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