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RE: Reed Elsevier Law suit.
- To: "'email@example.com'" <firstname.lastname@example.org>
- Subject: RE: Reed Elsevier Law suit.
- From: "Hamaker, Chuck" <email@example.com>
- Date: Mon, 28 Feb 2000 14:33:37 EST
- Reply-To: firstname.lastname@example.org
- Sender: email@example.com
The Virgin Islands is used as a "port" for US Corporations to avoid us. taxes on certain types of sales. McCain (Republican US Presidential hopeful) has recently come out strongly against this. A story in today's New York Times mentions this: ABC's "This Week," Mr. McCain was asked if he supported a recent ruling by the World Trade Organization to eliminate foreign sales corporations, the off-shore subsidiaries that many United States companies set up to channel overseas sales through places like the Virgin Islands. The United States does not tax sales made by those subsidiaries, nor does it impose duties when they transfer profits to their parent companies. Because of the provision, hundreds of United States companies, including Boeing, Microsoft and General Motors, avoided paying about $4 billion in federal taxes last year. Boeing alone saved $130 million in 1998. http://www.nytimes.com/library/politics/camp/022800wh-gop-mccain.html So--I think our Australian colleagues' comment is right on the mark. The Virgin Islands may well harbor some major international companies with interests that conflict with Reed Elsevier's interests. Though it would certainly be interesting to know exactly who or what is suing them. Anybody know--who can tell us? Chuck Hamaker > -----Original Message----- > From: Hal Cain [SMTP:firstname.lastname@example.org] > Sent: Saturday, February 26, 2000 9:11 AM > To: email@example.com > Subject: Re: Reed Elsevier Law suit. > > All is not sweetness and light in the electronic information field! > > I wonder about the Virgin Is. though; but could be that (if, as I think, > it's a tax haven) then they could well be acting on behalf of another > electronic info provider with its head office there.