Bloomberg: IRS Releases Country-by-Country Filings: Insights on Tax Havens, Effective Tax Rate

One of the interesting patterns in the CbCR filings is the gap between the statutory and effective tax rates. The ETR on the U.S. is just 9% versus the statutory rate is 21%. This matches up with a study done by a left-leaning think-thank, The Institute on Taxation and Economic Policy, which found that almost 100 profitable Fortune 500 companies, including Amazon, General Motors, and Salesforce.com, paid no U.S. corporate tax in 2018. Read more