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U.S. firms no longer paying more in foreign income tax than American

Globe editors have posted this research report with permission of  S&P Dow Jones Indices. This should not be construed as an endorsement of the report's recommendations. For more on The Globe's disclaimers please read here. The following text is excerpted from the report:

The percentage of income tax paid to foreign entities decreased 1.8 per cent in 2012 as U.S. payments increased 24.2 per cent with S&P 500 issues sending a cumulative $139-billion (U.S.) to non-U.S. governments and $146-billion to the U.S. government.

"In 2012, S&P 500 issues returned to paying more income tax to the U.S. government than to foreign countries, reversing a two-year trend," notes Howard Silverblatt, S&P Dow Jones Indices' Senior Index Analyst. "Washington received 51.2 per cent of income taxes paid in 2012, up from 45.3 per cent in 2011. The 48.8 per cent paid abroad is substantially down from 60.6 per cent in 2005."

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