Table 1
Earnings and profits of U.S. multinational corporations’ foreign subsidiaries (CFCs), 2008
| Number of CFCs | Earnings and profits before taxes (millions $) | Earnings and profits as a percent of GDP | |
|---|---|---|---|
| All geographic regions | 83,642 | 661,993 | |
| Selected tax havens | |||
| Bahamas | 372 | 16,848 | 204.30% |
| Bermuda | 1,008 | 68,587 | 1122.50% |
| British Virgin Islands | 419 | 7,876 | 937.90% |
| Cayman Islands | 1,677 | 43,044 | 1913.00% |
| Costa Rica | 450 | 690 | 2.30% |
| Cyprus | 138 | 696 | 2.80% |
| Guernsey | 67 | 604 | 22.00% |
| Hong Kong | 2,368 | 8,325 | 3.80% |
| Ireland | 1,202 | 60,243 | 22.70% |
| Jersey | 101 | 605 | 11.90% |
| Luxembourg | 681 | 30,706 | 55.80% |
| Malta | 31 | 127 | 1.40% |
| Netherlands | 3,505 | 94,411 | 10.80% |
| Panama (including Canal Zone) | 282 | 1,832 | 8.00% |
| Singapore | 1,843 | 13,767 | 7.20% |
| Switzerland | 1,411 | 48,096 | 9.20% |
| Percent of total–all regions | 18.60% | 59.90% | |
| Selected developed countries (excluding tax havens) | |||
| Australia | 2,802 | 23,673 | 2.20% |
| Austria | 527 | 1,476 | 0.40% |
| Belgium | 1,222 | 3,762 | 0.70% |
| Canada | 6,829 | 47,696 | 3.10% |
| Denmark | 693 | 2,103 | 0.60% |
| France | 3,522 | 14,380 | 0.50% |
| Germany | 4,094 | 15,714 | 0.40% |
| Italy | 1,665 | 5,748 | 0.20% |
| Japan | 2,730 | 6,311 | 0.10% |
| Korea | 860 | 5,597 | 0.60% |
| Spain | 1,785 | 13,948 | 0.90% |
| Sweden | 1,052 | 829 | 0.20% |
| Percent of total–all regions | 33.20% | 21.30% | |
Source: Internal Revenue Service's Statistics of Income, and GDP data from CIA and IMF
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