Sentence examples for offshore address from inspiring English sources
Ingersoll-Rand, Nabors Industries and others that acquired an offshore address in the past year said that high rates of American tax forced them to expatriate.
Congress is now considering two bills that would deny tax benefits to companies that acquire an offshore address after March 20 of this year.
Mr. Angelides announced last month that his office would not issue contracts to 22 companies that have or are seeking an offshore address.
It was also the offshore address of a Mongolian goldmining company whose directors included Sukhbaatar Batbold, an entrepreneur who would go on to become Mongolia's prime minister.
Before the election, both parties vowed to deny government contracts to companies that acquired an offshore address, a tactic that both Republicans and Democrats denounced as unpatriotic.
"We need to do the rest of the job by passing legislation that removes incentives for companies to acquire an offshore address," he said.
The A.F.L.-C.I.O. said other unions were working on similar proposals involving the two dozen or so other companies with offshore addresses.
This followed a Guardian-BBC investigation last year into the leaked data which revealed that two dozen Britons, giving obscure offshore addresses, were purporting to control thousands of companies.
The Treasury Department issued regulations yesterday requiring companies that acquire offshore addresses to tell their shareholders and the Internal Revenue Service, moving ahead on an issue that Congress vowed to act on and then dropped.
Last February and April, articles in The New York Times reported on major accounting firms, notably Ernst & Young, that were encouraging companies to acquire offshore addresses to escape taxes on profits earned in the United States.
Before then he was chairman of the House Appropriations Committee, which has unexpectedly begun tacking on to spending bills a ban on federal contracts for companies with tax-reducing offshore addresses.
