Detail Procter & Gamble and the Dark Art of Tax Avoidance   Oleh:  Sloan, Allan Jenis: Article from Bulletin/Magazine Dalam koleksi: Fortune vol. 164 no. 7 (Nov. 2011), page 33. Topik: Tax-Avoidance; Multinational Company; Profit Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: FF16.46 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel The tax-avoidance spotlight has been shining brightly, via the media, on companies like General Electric (GE), Exxon Mobil (XOM), Verizon (VZ), and big multinational banks. But some of the most clever and innovative tax avoiding is being done by a company not usually associated with financial wheeling and dealing: Procter & Gamble (PG). In three deals spread over almost a decade, the owner of Tide detergent, Bounty towels, Gillette shaving products, and many other household names has managed to reopen a loophole that Congress closed in 1997. By my estimate, P&G's profits on the deals, which involve selling brands it no longer wants, total about $6 billion and are tax-free to the company, and are tax-deferred to its shareholders, possibly forever. A straight-up sale would have triggered a $2 billion federal tax bill and a hefty state tax bill (for details, see my calculations at the bottom of the page). All three involve so-called Reverse Morris Trust transactions, of which more later. "P&G is the most active practitioner of this technique," says tax expert Robert Willens of Robert Willens LLC. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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