A look at the world's new corporate tax havens

[FreakinDJ]

A look at the world's new corporate tax havens

An increasingly popular way, particularly pharmaceutical and hi-tech companies like Google avoid paying the 35 percent is to shift their patents, computer code, pill formulas, even logos from their U.S. bases to their outposts in low-tax countries.

"A hundred years ago, if a company would want to relocate, you know, you'd have to pick up a factory, machinery and move everything. Today, a company can move predominantly all of its assets just on paper," Swiss tax attorney Thierry Boitelle explained.

When a formula or a computer code is registered abroad - say in Zug - a U.S. company is allowed to claim a lot of its taxable profits are there, even if most of its sales are in the U.S.

http://www.cbsnews.com/stories/2011/03/25/60minutes/main20046867_page4.shtml

Do you think China would allow Corps to RAPE them over Taxes

The 2011 corporate tax rate for domestic and foreign companies is 25%.

An individual's capital gains are taxable in China at the rate of 20%.
Capital gains tax for a Chinese company is added to the regular tax.
A 10% deduction at source is made from the capital gains of a foreign company in China.


http://www.worldwide-tax.com/china/china_tax.asp

[orwell]

1. But how can China punish...

...the "job creators..."

I thought high cap gains taxes destroyed jobs. :shrug:

[FreakinDJ]

2. Look at the 45% Tax of Top Wage Earners

Tax % Monthly Income (CNY)
5% 1 - 500
10% 501 - 2,000
15% 2,001 - 5,000
20% 5,001 - 20,000
25% 20,001 - 40,000
30% 40,001 - 60,000
35% 60,001 - 80,000
40% 80,001 - 100,000
45% 100,001 and above

[salin]

3. hi, orwell!

they don't even worry about not making sense anymore - and contradictory evidence. Sometimes it feels like we are living in the middle of a sick joke.

[Frustratedlady]

4. These companies aren't patriotic and should be shunned in the marketplace

I doubt Georgia Pacific feels the loss of sales from me, but I'm trying to shun their products. My protest against the Kochs. It makes me feel good, if nothing else.

I would also shun companies who pull this crap to get out of doing their part to support America. They need to concentrate more on making a good product and less on avoiding taxes...firing a few lawyers would be a good start. Unbelievable!!!