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SO "taxing again" just means making up the difference, not actual double taxation as exists in US for dividends to individual shareholders.

But that difference can be a lot. I don't know much about US tax rates, but I think corporations pay in the region of 35% but in Ireland where I live and where JNJ's subsidiary (Jansen) is, the Corporation Tax rate is 12.5%. This low rate is specifically to target investment from large (typically US) multinational companies. Ireland has also become a popular location for companies to locate their tax base.

Our low corporation tax rate is also a bone of contention between us and several of our European neighbours ...

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