AdvertisementHow Tax Bills Would Reward Companies That Moved Money Offshore Image An office on the island of Jersey for Appleby, a law firm specializing in offshore holdings. The Republican tax plans would lower rates on corporate profits held overseas to encourage American companies to bring the money to the United States. The tax breaks for bringing home such offshore profits “confirm the central tenet of tax planning that a tax deferred is a tax avoided,” said David Miller, a tax lawyer at Proskauer Rose. That removed one of the main deterrents to companies pushing profits into overseas tax havens — and opened the floodgates. After that tax break, companies resumed pushing profits offshore — at an even brisker pace.

Source: New York Times November 29, 2017 11:00 UTC