Well done Observer subs!

American big business faces the G20 in a fight for $2.1tn in unpaid tax

That much in unpaid tax?

In total, US multinationals are sitting on an estimated $2.1tn in untaxed offshore profits

Err, no, supposedly that much profit untaxed.

Numbers and the left, eh?

2 thoughts on “Well done Observer subs!”

  1. They are, of course, not ‘untaxed’ they will have been taxed at the local rate wherever they’re stashed. And if you want to bring them home, they’ll get taxed again, which is why they’re (generally) sitting in an account somewhere in the Antilles.

  2. At least it implies that it’s profits that get taxed, rather than their usual implication that it’s revenues that get taxed. Baby steps, Tim.

    By the way did you see the story on the Tel’s business page about the Tox Dadger Group and the FT being done for alleged evil-doing, with allegations of tyre-slashing, burglary and whatnot. It’s allegedly in front of the High Court.

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