83 Percent of Companies Had Tax-Haven Units

[katty]

(your bailout tax $ 'at work')

more: http://www.bloomberg.com/apps/news?pid=20601087&sid=aK0aqjwsiSCA&refer=home#

83 Percent of Companies Had Tax-Haven Units, GAO Says (Update1)
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By Ryan J. Donmoyer

Jan. 16 (Bloomberg) -- Eighty-three of the 100 largest publicly traded U.S. companies, including Citigroup Inc., PepsiCo Inc. and General Motors Corp., had units in multiple tax havens in 2007, a government study said. Among those companies were some recipients of federal bailout money.

The Government Accountability Office said in a report dated Dec. 18 and released today by two senators that four companies, Morgan Stanley, Citigroup, Bank of America Corp., and News Corp., had more than 100 subsidiaries in low-tax or no-tax countries. The first three companies received or will receive shares of a $700 billion financial rescue package approved by Congress.