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Offshore corporations should be required to do the same.
The trusts and offshore corporations individually owned small percentages of the shares of each company.
Supporters have already answered Republican demands that the bill be fully paid for by closing loopholes enjoyed by offshore corporations.
For those daring to use offshore corporations to make such purchases, the tax bill is more severe: 15 percent.
He provided an affidavit describing offshore corporations he had organized for Mr. Marcos in the Netherland Antilles and Panama.
More than half the law firm's offshore corporations were based in the British Virgin Islands, a UK-administered tax haven.
Similar(18)
According to court papers, Mr. Abrahamsen used a sham offshore corporation in Panama known as Primrose Properties S.A. to help hide his UBS accounts.
HM Revenue and Customs figures show that offshore corporation tax receipts for April to September were only £203m, compared with a six-monthly peak of £3.3bn in 2011.
The government is outlawing a number of offshore corporation tax avoidance schemes, one of which has been operated by Tesco, the supermarket giant has confirmed.
According to a document made public in Manila, Mr. Marcos and Joseph E. Bernstein, one of the Americans, were involved in an offshore corporation that owned at least one large building in midtown Manhattan.
"Payments of offshore corporation tax and petroleum revenue tax (PRT) will be lower and are likely to be dwarfed by repayments relating to [platform] decommissioning costs," said the OBR, adding that the burden would be made worse by oil companies posting losses.
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