They pay taxes in the US on US profits (along with payroll taxes, etc)
They pay local taxes on profits earned overseas. Then they gather up those profits in an Irish subsidiary, where they get the most most favourable tax treatment available to them.
Why would they, as a multinational company, not do that? Why would they repatriate those profits, not earned in the US to the US and take a second tax hit?
If the contention is that they are somehow hiding US profits by misrepresenting them as overseas profits to avoid taxes, then that would obviously seem rather sleazy. But if that's not the case, what's the moral or legal argument against what they're doing? Or are they misrepresenting what they're doing? It's hard to get a handle on the underlying issue with all the congressional posturing.
They pay taxes in the US on US profits (along with payroll taxes, etc)
They pay local taxes on profits earned overseas. Then they gather up those profits in an Irish subsidiary, where they get the most most favourable tax treatment available to them.
Why would they, as a multinational company, not do that? Why would they repatriate those profits, not earned in the US to the US and take a second tax hit?
If the contention is that they are somehow hiding US profits by misrepresenting them as overseas profits to avoid taxes, then that would obviously seem rather sleazy. But if that's not the case, what's the moral or legal argument against what they're doing? Or are they misrepresenting what they're doing? It's hard to get a handle on the underlying issue with all the congressional posturing.