The last column of the table reports, for each country, the CFCs’ earnings and profits as a percentage of the country’s GDP. For tax havens, profits from CFCs are often very large compared with the country’s GDP. In four cases it is many times larger than GDP—from two times to nearly 20 times as high. It is difficult to imagine that these profits are due to economic activities actually undertaken in these specific countries. In the large developed countries we examine, CFC earnings and profits tend to be very small compared with the country’s GDP.