If for example, an MNC gets revenue from a client who is a citizen of a particular country, does that mean the MNC have to pay tax on that share of income to that particular country? Or can an MNC pick and choose which country they have operations in to pay taxes to?
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Then there’s always the option of enormous write offs?? So called donations to so called charitable companies they own?? Stuff like that??
Just guessing what my lawyer would advise for hiding my trillions.
All kinds of skunky ways to not pay. Many of the major players don’t, or am I reading the wrong people? Exxon is usually mentioned.
The short answer is, many don’t.
https://www.investopedia.com/news/how-fortune-500-companies-avoid-paying-income-tax/
https://itep.org/55-profitable-corporations-zero-corporate-tax/
Apr 2, 2021The tax-avoiding companies represent various industries and collectively enjoyed almost $40.5 billion in U.S. pretax income in 2020, according to their annual financial reports. The statutory federal tax rate for corporate profits is 21 percent. The 55 corporations would have paid a collective total of $8.5 billion for the year had they paid …
https://theconversation.com/how-multinationals-continue-to-avoid-paying-hundreds-of-billions-of-dollars-in-tax-new-research-124323
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