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Reminds me of the figure that made headlines a few years back - "50% of Corporations Paid No Income Tax!!!"

There was much outrage, until the IRS said that the reason was that 50% of corporations lost money. Corporations are taxed on profits, not losses.

They "lost money" because they moved their profits to their subsidiaries abroad, where it is either not taxed, or taxed at much lower rates.

No, not in this case. They literally made no profit.

Except those losses are often purely virtual.