US-controlled companies are among many global firms and wealthy individuals (including 612 Indians) around the world who park their profits in well-known tax havens. Money from the US controlled companies alone is often several times more than the GDP of these tiny nations.
Profits for US MNCs as a % of local GDP
British Virgin Islands
An investigative report titled Tax Havens: International Tax Avoidance and Evasion brought out by the US Congressional Research Service in January 2013
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(This story appears in the 03 May, 2013 issue of Forbes India. To visit our Archives, click here.)