Tuesday, May 5, 2009

The Netherlands on Obama's favorite list...

Yep, Obama discovered the Netherlands and well on a way which is questionable; his staff thinks that the Netherlands is a tax-paradise comparable with the Bermuda. Yes, many foreign multi nationals have for (corporate) tax reasons their headquarters in Holland but income tax is substantial higher.
According January 2009 GAO report, they found that of the 100 largest U.S. corporations, 83 have subsidiaries in tax havens.
In the Cayman Islands, one address alone houses 18,857 corporations, very few of which have a physical presence in the islands.
Nearly one-third of all foreign profits reported by U.S. corporations in 2003 came from just three small, low-tax countries: Bermuda, the Netherlands, and Ireland.
And who dare to say that we Dutch created a socialistic regime...thank you G.W. Bush.
Here the full White House text. Have fun!

Day Opening - May 5

...wanna play golf...