[WalterBright]

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.

[enraged_camel]

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

[refurb]

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

[trasz2]

Except those losses are often purely virtual.