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美国公司在避税港的分支机构占美国对外直接投资的20%以上,约占美国公司外国利润的1/3。作为对地方政府税收调整的部分反应,美国公司通常把它们外国业务活动的很大一部分安排在避税港进行。这一问题已引起美国国际税收理论界的广泛重视和思考。本文试图对一些学者在这方面的研究作些介绍和分析。美国公司在避税港的活动范围若按总资产来衡量,在美国公司海外分支机构1.35万亿美元的全球经营所得中来自避税港的所得要占1/4以上。这一数额大大超出美国在(各个非避税港的)欧洲大陆的直接投资总额。但若按股权标准来衡量,避税港在美国公司外国直接投资中所占份额却并不算高,为21%。然而,避税港分支机构的净收益份额却比其资产份额大:美国公司360亿美元的外国来源所得中有30.8%(111亿美元)来自避税港国家或地区。
U.S. branches in tax havens account for more than 20% of U.S. foreign direct investment, accounting for about one-third of the U.S. foreign profits. As a partial response to the tax adjustment by local governments, U.S. companies usually place a significant portion of their foreign operations at tax havens. This issue has aroused widespread attention and reflection in the international tax theory circles in the United States. This article attempts to introduce and analyze some scholars’ research in this field. The U.S. company’s tax-hurdled range of activities, if measured by total assets, accounts for more than a quarter of the U.S. $ 1.35 trillion in global operating income from tax havens in overseas affiliates of U.S. companies. This amount greatly exceeds the U.S. total direct investment in the European continent (each non-tax-shelter port). However, when measured by equity criteria, the share of tax havens in U.S. foreign direct investment is not high at 21%. However, the share of net proceeds from tax havens affiliates is larger than their share of assets: 30.8% ($ 11.1 billion) of U.S. $ 36 billion in foreign-source income comes from tax havens.