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You are here: Home / Business / Senator wants to stop off-shore tax havens

Senator wants to stop off-shore tax havens

June 18, 2002 By admin

Senator Charles Grassley is pushing legislation that would make it tougher for U-S corporations to establish “fictional” headquarters in foreign countries in order to avoid U-S taxes.Grassley says businesses that try to escape paying taxes by setting up shell corporations in other countries aren’t doing anything illegal, but it is — according to Grassley — immoral.Grassley says during a recession and the War on Terrorism, everybody in the U-S ought to be pulling together rather than opting for a foreign country with cheaper taxes.The Senate Finance Committee will debate the legislation this afternoon. Grassley’s the top-ranking republican on the committee.

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Filed Under: Business, Politics / Govt Tagged With: Chuck Grassley, Taxes

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