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U.S.-based multinationals have dodged billions of dollars in taxes by shifting profits to low-tax jurisdictions overseas, and have used loopholes in the law to avoid taxes on repatriated income that should be subject to taxation, information uncovered by the U.S. Senate Permanent Subcommittee on Investigations shows.
Levin, Carl, "Subcommittee Hearing to Examine Billions of Dollars in U.S. Tax Avoidance by Multinational Corporations" (2012). Historical and Topical Legal Documents. 147.