Microsoft sells its software in foreign countries from an affiliate in Ireland – after making small changes in the software so they can avoid US taxes. There, it pays only a 10 percent tax on its corporate profits, rather than the 38 percent corporate rate in the US.
Other US corporations set up affiliates in such tax havens as Barbados, the Bahamas, and Bermuda. US firms are "quite aggressive" in taking advantage of such tax havens,
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