UPDATE 3-Most big US companies use offshore 'tricks' to avoid taxes-activists

jueves 5 de junio de 2014 17:21 GYT

* Senator Wyden wants public hearing on corporate tax

* Cayman Islands, Bermuda common sites of shell companies

* U.S. multinationals avoid $90 bln/year in taxes - report

* Business-aligned research group says report "misleading" (Adds details on hearing, background on inversions)

By Kevin Drawbaugh and Patrick Temple-West

WASHINGTON, June 5 (Reuters) - Most Fortune 500 corporations have offshore tax haven units that they use to avoid paying U.S. taxes through "accounting tricks," two left-leaning tax activist groups said on Thursday.

U.S. multinationals each year avoid paying about $90 billion in federal income tax, the groups said in a report that comes amid increased attention to corporate tax avoidance worldwide.

"Many large, U.S.-based multinational corporations avoid paying U.S. taxes by using accounting tricks to make profits made in America appear to be generated in offshore tax havens - countries with minimal or no taxes," said Citizens for Tax Justice (CTJ) and U.S. Public Interest Research Group (PIRG).

About 72 percent of Fortune 500 companies had subsidiaries in low-tax jurisdictions in 2013, with most of these units located in the Cayman Islands or Bermuda, said the report.   Continuación...