Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Walmart's use of tax havens revealed in new report
Walmart's use of tax havens revealed in new reporthttp://www.cbc.ca/news/business/walmart-s-use-of-tax-havens-revealed-in-new-report-1.3117306
"SNIP................
Walmart has built a web of 78 subsidiaries and branches in offshore tax havens where it is sheltering up to $76 billion US in overseas profits, most of it unreported to the U.S. Securities and Exchange Commission, according to a new report.
The retailer's use of tax havens was revealed in a study called The Walmart Web: How the world's biggest corporation secretly uses tax havens to dodge taxes, released by Americans for Tax Fairness on Wednesday.
....
It was researched by the United Food & Commercial Workers International Union using public documents filed in jurisdictions around the world.
Walmart has set up units in 15 low-tax havens, that may be used to minimize foreign taxes from countries outside the U.S. where it has retail operations, including Britain, Brazil, Japan and China.
..............SNIP"
6 replies
= new reply since forum marked as read
= new reply since forum marked as read
I think at my age if I stood on my head - in yoga class or anywhere else - my brain might leak out my ears. 
Apple has a tiny four-person subsidiary, Braeburn Capital (a kind of apple, just like Macintosh! Get it? 
). Braeburn is headquartered in Reno. Nevada has no corporate income tax. All of Apple's profits somehow manage to flow through Braeburn. Result: California gets screwed big time. And I would imagine Arkansas needs Walmart's money a hell of a lot more than we need Apple's.
