Corporate income stows away abroad

Facing huge deficits, US steps up efforts to reduce the appeal of foreign tax havens

By Stephen J. Glain

Globe Staff / February 24, 2004

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WASHINGTON -- Nearly half of the estimated $233 billion US corporations earned abroad in 2001 is held in foreign tax havens, up from 38 percent in 1999 and 23 percent in 1988, according to an analysis of recent Commerce Department data. (Full Article: 1236 Words)