Vox: Trumps Says the U.S. Has the Highest Corporate Tax Rate in the World

Big multinational corporations commonly make use of the deferral loophole, which allows them to avoid taxes on profits made abroad.

That exception creates incentives for corporations to use accounting gimmicks to shift profits made at home to overseas subsidiaries and to funnel money through foreign tax havens where they owe little to no tax.

According to a 2017 report by the Institute on Taxation and Economic Policy, Fortune 500 companies are dodging up to $767 billion in US federal income taxes by keeping more than $2.6 trillion of their profits offshore. Read more

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