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Many Firms Didn't Pay Taxes
Most Corporations Skipped Payments
From '98 to '05, GAO Says
two-thirds of corporations operating in the United States did not pay taxes
annually from 1998 to 2005, according to a new report scheduled to be made public today from the U.S. Government Accountability Office...."
and from that GAO Report,
Comparison of the Reported Tax Liabilities of Foreign- and U.S.-Controlled Corporations,
"We reported that from 1989 through 2000 foreign-controlled corporations were more likely to report zero U.S. income tax liability than U.S.-controlled corporations with a majority of both types of corporations reporting no liability.
By manipulating transfer prices, multinational companies can shift income from higher to lower tax jurisdictions, reducing the companies’ overall tax liability. As we noted in our previous reports, researchers acknowledge that transfer pricing abuses may explain some of the differences in tax liabilities of foreign-controlled corporations compared to U.S.-controlled corporations...."