[Upd-discuss] Corporate Profits Take an Offshore Vacation

[Gilmar Mendes]

http://thekomisarscoop.com/2007/02/23/corporate-profits-take-an-offshore-vacation/
...
Merck had cooked its tax books by moving ownership of its drug
patents to its own Bermuda shell company - an entity that has no
real employees and does no real work - and then deducting from
U.S. taxes the huge royalties it paid itself. 
...
A few years ago, it set up an Irish subsidiary (of M$) called
Round Island One Ltd. to own its 16 billion dollars worth of
copyrights on software developed in the U.S.