"At the present time a lot easier to do business in the UK, Canada, Russia — which I never thought I’d tell, — or China, "- said the president and CEO of a leading network equipment manufacturer Cisco Systems John Chambers(John Chambers).
His opinion of a top manager has shared in an interview given to CNN in the sidelines of the Davos World Economic Forum.
Chambers saddened by the fact that, under U.S. law, the tax on profits that U.S. companies abroad and returned to the bank accounts of the native state, is 33%. "No other developed country in the world does not take more than 2%, "- He said.
The head of the company made it clear that, for this reason, engage in big business in the U.S. is not so favorable than in those states that have it listed. Because high tax limits the company in development. Due to the high tax Cisco has accumulated abroad about $ 43 billion, which does not want to return to the United States. Cisco headquarters is located in Silicon Valley.