[ikka]

By contrast, if a mainland company established manufacturing operations in Ireland, Singapore, Malaysia, or anyplace else in the world outside the United States and its possessions, the income generated could not be brought home tax-free but would be subject to a 35 percent corporate tax rate if repatriated to the mainland. Paying the tax could only be avoided (deferred) if the income generated from the controlled foreign corporation was kept offshore.

Just a note... last year (maybe the last few years), there was a tax amnesty in place - companies could repatriate their offshore dollars at only 5% tax rate. Companies like Dell and others having large overseas earnings, brought home BILLIONS of dollars.

[ikka]

Uh, OOPS on my part... this is mentioned later in the article.

[4Freedom]

IMO, it was a mistake to offer a tax amnesty to these companies. They would have brought that money home all by themselves. That 35% tax was one of the few penalties on businesses that took jobs away from Americans. Now, we'll have companies expecting or even demanding amnesties in the future.

The net result of that amnesty is we'll lose more jobs.