Greenlight Company Presentation

Where is the Cash? Here, There and Everywhere o Cash earned overseas is taxed at lower rates o Leaving cash abroad lowers effective tax rates o Lower effective tax rates increase reported earnings Greenlight Capital, Inc. Tax Rates For Selected Tech Companies 30% 25% 20% 15% 10% 5% 0% (DELL Google.. Microsoft EMC² CISCO 8 Tech companies use tax strategies available under current laws that maximize 'offshoring.' They earn their money in jurisdictions with more favorable tax rates than the U.S. As long as they don't bring it back to the U.S., they pay only the lower tax rate. I guess what's earned in Ireland stays in Ireland. The lower rate allows for higher reported earnings. 8

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