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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: I. N. Vester who wrote (1252)11/3/1997 11:24:00 PM
From: mooter775  Read Replies (1) of 27311
 
My understanding is that VLNC not only has lower taxes as a result of its principal production facility being located in Ireland, but also that any foreign profits (Ireland or Korea) also are transferred first to an offshore corporation (Netherlands Antilles, I think, but perhaps a Caribbean Basin corporation). The resulting effective tax rate on continuing operations is less than 20% (forgetting about the substantial tax loss carryforward). I am on the Board of Directors of one company with U.S. headquarters but virtually all its manufacturing operations in the Far East, Israel, the Caribbean and Central America. Its effective U.S. tax rate is 15%.
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