U.S. FIRMS ‘HID $1.4T IN TAX HAVENS’
The top 50 U.S. companies—like Microsoft, Apple, and Walmart—have allegedly stashed $1.4 trillion in tax havens, notwithstanding the fact that they received trillions of dollars in backing from taxpayers, a report by global poverty charity Oxfam claims. Between 2008 and 2014, those corporations paid $1 trillion in taxes.
During the same eight-year period, the companies received the benefit of $11.2 trillion in federal bailouts, loan guarantees, and loans. General Electric, which has received at least $28 billion in support from taxpayers, stashed $119 billion in more than 100 subsidiaries, according to the report. Apple topped the list, though, holding an alleged $181 billion offshore in at least three tax-haven subsidiaries.
READ IT AT THE GUARDIAN
http://www.theguardian.com/world/2016/apr/14/us-corporations-14-trillion-hidden-tax-havens-oxfam?via=newsletter&source=CSAMedition
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