The Daily Mail is revealing that:
Rupert Murdoch’s News Corp. collected $4.8 billion in income tax refunds in the last four years, an investigation has uncovered.
The payback means Murdoch’s U.S.-based media empire has actually made money on tax rebates on top of its $10.4 billion in profits. At the standard 35 per cent corporate tax rate the company should have coughed up $3.6 billion in tax.
The relevant figure is the cash paid tax rate. This is the net amount of corporate income taxes actually paid after refunds. For the last four years, it was minus 46 percent, disclosure statements show.
Read more at the Daily Mail
http://www.dailymail.co.uk/news/article-2013937/U-S-government-paid-Murdochs-News-Corp--4-8-billion-income-tax-refunds-years.html#ixzz1Ruls1zQVhttps://politicore.wordpress.com/2011/07/12/news-corp-made-profit-of-4-8b-tax-refunds-from-u-s-gov%E2%80%99t-over-four-years-u/
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