Economic

Untaxed U.S. corporate profits held overseas top $2.1 trillion: study

“Foreign profits held overseas by U.S. corporations to avoid taxes at home nearly doubled from 2008 to 2013 to top $2.1 trillion, said a private research firm’s report, prompting a call for reform by the Senate’s top tax law writer.

‘The new numbers … certainly highlight what is one of the key challenges for tax reform. I do think there need to be some reforms in this area,’ Senate Finance Committee Chairman Ron Wyden told reporters on Tuesday on Capitol Hill.”

Source:Untaxed U.S. corporate profits held overseas top $2.1 trillion: study | Reuters

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