Via the Washington Post we get a list of American companies that have left the United States to avoid paying their fair share in taxes.
| INVERSION YEAR | COMPANY NAME | TYPE | COUNTRY OF INCORPORATION | REVENUE |
|---|---|---|---|---|
| 1983 | McDermott International | Engineering | Panama | $2.7 billion |
| 1994 | Helen of Troy | Consumer Products | Bermuda | $1.3 billion (FY 2014) |
| 1996 | Triton Energy | Oil and Gas | Cayman Islands | Acq by Hess in '01 |
| 1996 | Chicago Bridge & Iron (CBI) | Engineering | Netherlands | $11.1 billion |
| 1997 | Tyco International | Diversified Manufacturer | Bermuda | $10.6 billion |
| 1997 | Santa Fe International | Oil and Gas | Cayman Islands | Acq by Transocean in '07 |
| 1998 | Fruit of the Loom | Apparel Manufacturer | Cayman Islands | private company |
| 1998 | Gold Reserve | Mining | Bermuda | N/A |
| 1998 | Playstar Corp. | Toys | Antigua | Acq by Premier Mobile in '06 |
| 1999 | Transocean | Offshore Drilling | Cayman Islands | $9.4 billion |
| 1999 | White Mountain Insurance | Insurance | Bermuda | $2.3 billion |
| 1999 | Xoma Corp. | Biotech | Bermuda | $35.5 million |
| 1999 | PXRE Group | Insurance | Bermuda | Acq by Argonaut Group in '07 |
| 1999 | Trenwick Group | Insurance | Bermuda | Acq by LaSalle Re Holdings in '00 |
| 2000 | Applied Power | Engineering | Bermuda | Now called Actuant $494 million |
| 2000 | Everest Reinsurance | Insurance | Bermuda | $5.6 billion |
| 2000 | Seagate Technology | Data Storage | Cayman Islands | $14.4 billion |
| 2000 | R&B Falcon | Drilling | Cayman Islands | Acq by Transocean in '00 |
| 2001 | Global Santa Fe Corp. | Offshore Drilling | Cayman Islands | Acq by Transocean in '07 |
| 2001 | Foster Wheeler | Engineering | Bermuda | $559 million |
| 2001 | Accenture | Consulting | Bermuda | $28.6 billion (FY 2013) |
| 2001 | Global Marine | Engineering | Cayman Islands | Acq by Bridgehouse Capital in '04 |
| 2002 | Noble Corp. | Offshore Drilling | Cayman Islands | $4.2 billion |
| 2002 | Cooper Industries | Electrical Products | Bermuda | Acq by Eaton in '12 |
| 2002 | Nabor Industries | Oil and Gas | Bermuda | $1.6 billion |
| 2002 | Weatherford International | Oil and Gas | Bermuda | $15.2 billion |
| 2002 | Ingersoll-Rand | Industrial Manufacturer | Bermuda | $12.3 billion |
| 2002 | PricewaterhouseCoopers Consulting | Consulting | Bermuda | N/A |
| 2002 | Herbalife International | Nutrition | Cayman Islands | $4.8 billion (sales) |
| 2005 | Luna Gold Corp | Mining | Canada | $85.3 million |
| 2007 | Lincoln Gold Group | Mining | N/A | |
| 2007 | Western Goldfields | Mining | N/A | Acq by New Gold in '09 |
| 2007 | Star Maritime Acquisition Grp | Shipping | N/A | Now Star Bulk $69 million |
| 2007 | Argonaut Group | Insurance | Bermuda | $1.4 billion |
| 2007 | Fluid Media Networks | Music Distribution | ||
| 2008 | Tyco Electronics | Industrial Manufacturer | Switzerland | Now TE Connectivity $3.4 billion (FY '13) |
| 2008 | Foster Wheeler | Engineering | Bermuda | $3.3 billion |
| 2008 | Covidien | Healthcare | Ireland | $10.2 billion |
| 2008 | Patch International Inc | Oil and Gas | Canada | |
| 2008 | Arcade Acquisition Group | Financial | ||
| 2008 | Energy Infrastructure Acquisition Group | Energy | ||
| 2008 | Ascend Acquisition Group | Electronics | N/A | Acq by Kitara Media in '13 |
| 2008 | ENSCO International | Oil and Gas | United Kingdom | $4.9 billion |
| 2009 | Tim Hortons Inc | Restaurant Chain | Canada | $3.2 billion |
| 2009 | Hungarian Telephone & Cable Corp. | Telecommunications | Denmark | $219 million |
| 2009 | Alpha Security Group | Security | N/A | |
| 2009 | Alyst Acquisition Group | Financial | N/A | Acq by China Networks Media in '09 |
| 2009 | 2020 ChinaCap Acquirco | Financial | N/A | Acq by Exceed Co. in '09 |
| 2009 | Ideation Acquisition Grp | Private Equity | N/A | Acq by SearchMedia in '09 |
| 2009 | InterAmerican Acquisition Grp | Business Management | N/A | Acq by Sing Kung Ltd in '09 |
| 2009 | Vantage Energy Services | Offshore Drilling | Cayman Islands | $732 million |
| 2009 | Plastinum Polymer Tech Corp. | Industrial Manufacturer | ||
| 2010 | Valient Biovail | Pharmaceuticals | Canada | $5.7 billion |
| 2010 | Pride International | Offshore Drilling | United Kindom | Acq by Ensco in '11 |
| 2010 | Global Indemnity | Insurance | Ireland | $319 billion |
| 2011 | Alkermes, Inc. | Biopharmaceutical | Ireland | $575 million |
| 2011 | TE Connectivity | Industrial Manufacturer | Switzerland | $13.3 billion |
| 2011 | Pentair | Water Filtration | Switzerland | $7.5 billion |
| 2012 | Rowan Companies | Oil Well Drilling | United Kindom | $1.5 billion |
| 2012 | AON | Insurance | United Kindom | $11.8 billion |
| 2012 | Tronox Inc | Chemical | Australia | $1.9 billion |
| 2012 | Sara Lee Corp | Consumer Goods | Netherlands | Now Hillshire Brands $3.9 billion |
| 2012 | Jazz Pharmaceuticals / Azur Pharma | Pharmaceuticals | Ireland | $872 million |
| 2012 | D.E. Master Blenders | Coffee | Netherlands | $3.5 billion |
| 2012 | Stratasys | Printer Manufacturer | Israel | $486.7 million |
| 2012 | Eaton/Cooper | Power Management | Ireland | $22 billion |
| 2012 | Endo Health Solutions | Pharmaceuticals | Ireland | $2.6 billion |
| 2013 | Liberty Global PLC | Cable Company | United Kindom | $17.3 billion |
| 2013 | Actavis / Warner Chilcott | Pharmaceuticals | Ireland | $8.7 billion |
| 2013 | Perrigo/Elan | Pharmaceuticals | Ireland | $3.5 billion (FY 2013) |
| 2013 | Cadence Pharmaceuticals | Pharmaceuticals | Ireland | $110 million |
| 2014 | Mallinckrodt Pharmaceuticals | Pharmaceuticals | Ireland | $2.2 billion |
| 2014 | Chiquita Brands | Produce | Ireland | $3 billion |
| 2014 | Medtronic | Pharmaceuticals | Ireland | $16.5 billion |
SOURCE: Source: Ways and Means Committee Democrats. GRAPHIC: Danielle Douglas - The Washington Post. Published Aug. 6, 2014.
UPDATE: Here's the story of Caterpillar, who's avoided more than $2.4 billion in U.S. taxes since it moved its corporate offices to Switzerland (where 65 employees out of Caterpillar's 133,000 global workforce work).
Typo:
ReplyDelete2010 Global Indemnity Insurance Ireland $319 billion
That was not $319 Billion. Millions?
Not enough information to explain your list.
ReplyDeleteTo avoid paying TAXES needs more of an explanation?
DeleteNotice under obama from 2009-2014 the number of companies that left is double any 6 year period before that. And if you also add the number of companies that left because of regulations it's a lot worse. Gee, what a surprise. Not.
Deletefair share... cause 40% is not enough huh? need some more water systems like Flint or $12 million storage of ice 2 years post Hurricane Katrina I guess. Individuals and businesses are significantly better at manages resources than some crooked bureaucrat who only craves power.
ReplyDeleteEvery corporation in this country has to have a license to operate it is the ONLY thing that WE THE PEOPLE have to hold over their heads,,, they ARE NOT PEOPLE,,they live forever,,they can wait until you die you’re grandchildren die and their kids too. If A corporation wants to move their headquarters to another country so they don’t have to pay taxes here in the United States WE have no way of stopping them,, FINE let them go away .They will be replaced and TAKE AWAY THEIR License to operate in this country with them. Let it go with them and they no longer have a business in the United States ,,let the people that they pay 35 cents an hour buy their I POD or whatever they want American dollars for, if they do not want to support America, THEN America does not want to support them,,,money is the air that people like the KOCH brothers breath,,,, and just like they take jobs away from us take money away from them,,,it is probably our only chance
ReplyDelete"They will be replaced"? Really? Then where are the replacements? They will never be replaced and they will never come back until we have a President smart enough to lower corporate tax rates and who's smart enough NOT to tax the trillions of $$ they bring back to the U.S. Period
DeleteTrump will fix this
ReplyDeleteROFLMMFAO!!!
DeleteI am using your list here as a reference to a Pro-Trump blog. Thank you for your effort!
ReplyDeleteThanks for this post.
ReplyDeleteLet's boycotting all these products and do not buy them in the United States and buy strictly American made. Put a list of all the companies that have left the U.S to every American Household. We need to stand together and take our country back.
ReplyDeleteThese companies ARE taking their country back by leaving it. When a restaurant has to pay millions to defend itself against a lawsuit because there is too much ice in the cold drinks and then pay 50 percent in taxes to boot, it is time for them to go. Never bite the hand that feeds you. Divide, break and conquer. The enemies are close. It's all part of the big plan.
DeleteLet's boycotting all these products and do not buy them in the United States and buy strictly American made. Put a list of all the companies that have left the U.S to every American Household. We need to stand together and take our country back.
ReplyDeleteI checked the shirts for sale on Ebay made by the U.S.New England Shirt Factory.One was $78,another $110.Many cannot afford these prices.
ReplyDeleteIf a company is incorporated in another country/location, it's NOT am American company.
ReplyDeleteEvery product every service that has left the country for cheaper taxes American should boycott these companies all people in America should boycott these products services insurance companies gas suppliers oil companies boycott boycott boycott boycott boycott boycott boycott boycott boycott boycott people are the power boycott people are the power boycott boycott people are the power consumers are the power you see Donald Trump putting all the be in theirs and Power all the billionaires are going to get richer while we get for all their companies overseas
ReplyDeleteThe reason American made is so expensive is because the taxes on these companies are at 34 to 35%. If Trump is able to do his job and lower the taxes to 15-20% then the prices would come down and companies would stay and choose to come back to the US. Companies in the US have been over regulated and over taxed for far too long.
ReplyDeleteHello Everybody,
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Paying their fair share? OMG! No person or company should pay 40% to 50% taxes. That stupidity is the reason the United States have no jobs! Those companies left the United States because our government was robbing them with taxes and put so many regulations on them it was difficult for them to function. These companies can go anywhere. Just like the people living in California being taxed to death, they are leaving! When all the companies leave your Country your Citizens have no jobs! You get a $1,000.00 paycheck and your government is charging you $500.00 in taxes you will probably be finding another Country to move to! Thank God they are coming back!
ReplyDelete