<story><title>Pharma firms stash profits in Europe&apos;s tax havens</title><url>https://www.investigate-europe.eu/posts/deadly-prices-pharma-firms-stash-profits-in-europes-tax-havens-as-patients-struggle-with-drug-prices</url></story><parent_chain><item><author>ok_dad</author><text>I’m an American citizen, and no matter where I go, I owe the IRS taxes on what I make, even if the USA isn’t involved otherwise.&lt;p&gt;Question: why can’t we do the same for corporations in the USA? The equivalent action might be to only allow a company to expense money spent inside the USA and thus they can’t just license themselves all their own technology and patents which are held in a one person office in Ireland.&lt;p&gt;I’m sure I’m simplifying things too much, but I’m tired of the two tiered tax system where regular people pay for everything and corps reap the rewards.</text></item></parent_chain><comment><author>gruez</author><text>You can probably dodge the taxes too by incorporating a company in a tax haven, &amp;quot;working&amp;quot; for that company, and then selling your services through that company. The company can pay you a minimal wage, which would be taxed, but everything else can be stashed in that company tax free.</text></comment>
<story><title>Pharma firms stash profits in Europe&apos;s tax havens</title><url>https://www.investigate-europe.eu/posts/deadly-prices-pharma-firms-stash-profits-in-europes-tax-havens-as-patients-struggle-with-drug-prices</url></story><parent_chain><item><author>ok_dad</author><text>I’m an American citizen, and no matter where I go, I owe the IRS taxes on what I make, even if the USA isn’t involved otherwise.&lt;p&gt;Question: why can’t we do the same for corporations in the USA? The equivalent action might be to only allow a company to expense money spent inside the USA and thus they can’t just license themselves all their own technology and patents which are held in a one person office in Ireland.&lt;p&gt;I’m sure I’m simplifying things too much, but I’m tired of the two tiered tax system where regular people pay for everything and corps reap the rewards.</text></item></parent_chain><comment><author>gamblor956</author><text>A U.S. corporation that directly does business around the world is also subject to tax on its worldwide income.&lt;p&gt;Most companies big enough to be doing business around the world do so through separate companies.</text></comment>