Corporations

[Lyle_Seaman at transarc.com]

Sandy Sandfort <sandfort at crl.com> writes:
> On Tue, 1 Mar 1994, David L Womack wrote:
> > then, is offshore.  My understanding is that 
> > corporate earnings are subject to the host 
> > country's tax, NOT U.S. tax.  And, tax waivers
> > are not difficult to get from these other countries.
> 
> Yup.  And a variation of this is what's called double
> invoicing.  It's one of the things that made Hongkong
> great.

Now, knowing all this, every reader of this list should be **deeply**
suspicious of any official "trade deficit" figures.

Lyle