The devil's in the detail though - there are other ways to reduce taxable corporate income other than sensible investing. Examples - pay the money out to the directors - use iffy transfer pricing to have the profits appear to be made in some Irish company (see msft, appl) - set the company up offshore owned by a trust (see news corp) - pay the profits out as consultant fees to a company owned by your daughter (no idea who that could be) etc.