Report: The Use of Offshore Tax Havens by Fortune 500 Companies
A 2016 report from the non-profit, non-partisan organization Citizens For Tax Justice documents the tax abuses and tax avoidance practices of U.S. corporations.
From their website:
The main findings of this report are:
Most of America’s largest corporations maintain subsidiaries in offshore tax havens. At least 367 companies, or 73 percent of the Fortune 500, operate one or more subsidiaries in tax haven countries.
-All told, these 367 companies maintain at least 10,366 tax haven subsidiaries.
-The 30 companies with the most money officially booked offshore for tax purposes collectively operate 2,509 tax haven subsidiaries.
The most popular tax haven among the Fortune 500 is the Netherlands, with more than half of the Fortune 500 reporting at least one subsidiary there.
Fortune 500 companies are holding nearly $2.5 trillion in accumulated profits offshore for tax purposes. Just 30 Fortune 500 companies account for 66 percent or $1.65 trillion of these offshore profits.
Read the full report here: offshoreshellgames2016
Read the executive summary here: Offshore Shell Games 2016 | CTJReports