'Transfer pricing' sends profits overseas—on paper only
(NEWSER) - Lexapro, one of the world's best-selling antidepressants, is made by an American company and sold exclusively in the US, but the US doesn't see a penny in tax revenue when you buy a bottle. Instead, your money goes around the world as part of a complicated transaction dubbed the “Double Irish,” Bloomberg reports . Corporations routinely use such schemes, which involve converting sales in one country into profits in another—at least on paper. More»
