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The strategy requires a US company to attribute profits to an Irish subsidiary.
The European commission has yesterday ordered Apple to pay up to €13bn in back taxes, ruling that a system allowing the company to attribute profits on sales from across the continent to a head office in Ireland amounted to illegal state subsidy.
Born in 1906, he has lived through enough bear markets to know that investors will always blame others for losses, though they generally attribute profits to their own good sense.
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Multinationals routinely shrink their tax bills by attributing profits to subsidiaries in tax havens and who can blame them?Singling out tax havens as the culprits behind tax flight is out of date, for two reasons.
The Dallas-based firm said revenues decreased in all of its business segments, and attributed profit declines to reduced sales, increased restructuring charges, and the impact of underutilized manufacturing assets.
In this system, we termed the positive disturbance attribute comprehensive profit (CP), which includes social, economic, and natural profits, while the negative disturbance attribute is termed comprehensive cost (CC).
At a news conference today at DaimlerChrysler's headquarters in Stuttgart, Germany, company officials attributed the profit gain to cost savings, improved sales and a better mix of high-profit models.
The company attributed the profit gain to "increased advertising revenues at The Wall Street Journal and lower operating expenses throughout the newspaper businesses from prior year restructuring efforts," according to a company statement.
Never mind that Cisco's quarterly revenue was basically flat, and that analysts and Cisco's own management attributed the profits to cost cutting rather than to an upturn in business.
Kennedy attributes his profits to the long housing boom and the efforts his company has made to deploy technology and move jobs offshore.
Some of the pullback late Wednesday was also attributed to profit-taking after that big advance.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com