Capital Corp Merchant Banking

Capital Corp Merchant Banking

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Other countries, for example, Germany, taxed only income deemed earned within the country. Multinational companies with their parent company located in countries like Germany had lower effective tax burdens imposed by their home country tax structures.

Offshore tax havens imposed no taxes on foreign source income and few or negligible taxes on domestic income of multinational companies incorporated there. This provided a literal tax haven for a multinational company incorporated in that country although it had little or no operational or structural presence there.