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Congress Plans Hearing on Tax Havens and Corporate Profit Shifting

Accounting Today

The House Ways and Means Committee plans to hold a hearing next Thursday on the use of tax havens by multinational corporations to shift their profits. The hearing will examine U.S. and foreign multinational corporations’ use of tax havens in low- and no-tax jurisdictions to avoid tax and shift profits outside the U.S. and erode the U.S. tax base, as part of the committee’s continued work on comprehensive tax reform. “The use of tax havens as part of corporate tax avoidance strategies narrows th