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Defense Contracting: Recent aLw Has Impacted Contractor Use of Offshore Subsidiaries to Avoid Certain Payroll Taxes
John K. Needham (au)
Many federal contractors establish offshore subsidiaries to take advantage of labor and market conditions. GAO has found that they also use offshore subsidiaries to reduce their U.S. tax burdens. In 2008, Congress passed the Heroes Earnings Assistance and Relief Tax (HEART) Act which resulted in contractor offshore subsidiaries paying certain payroll taxes for U.S. personnel working abroad. FY 2009's Nat. Defense Authorization Act required this report on the rationales, implications, and costs and benefits of defense contractors' use of offshore subsidiaries. The report (1) assessed trends and purposes for contractors' offshore subsidiaries; (2) identified how contractors use subsidiaries to support defense contracts; (3) assessed DOD's oversight of contractors' use of offshore subsidiaries. The report reviewed data for the 29 U.S. publicly traded contractors with at least $1 billion in DOD spending in FY 2008, reviewed several illustrative contracts selected based on categories of DOD services most often performed overseas, reviewed audit documents, and interviewed DOD officials about oversight. Includes recommendations. Figures and tables.
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