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Non-Tech : The ENRON Scandal
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To: Mephisto who wrote (1921)1/30/2002 8:58:00 PM
From: Karen Lawrence  Read Replies (2) of 5185
 
This is no joke: Multinational corporations avoided $45 billion in US taxes in 2000 by buying and selling with their own foreign subidiaries at sometimes ridiculous prices, according to professors at Florida Intl U in a study released Nov by US Sen. Byron Dorgan of ND. For example, US subsidiary would buy (tax paid to the other country) a toothbrush fo $5,655 or a flashlight for $5,000, while US subsidiaries would sell (tax to US) a bulldozer for $528 or a prefab building for 82 cents. from Comic News.
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