Thursday, July 28, 2016
HowMuch.net, This Interactive Calculator Shows How Much Tax Havens Are Costing America:
Many multinational corporations use their global reach, and a fair degree of high-tech accounting, to shift their assets, profits—and taxes due—to so-called offshore tax havens. These countries have minimal corporation tax rates, drastically reducing the amount of tax these multinationals have to pay. Below is a list of the 30 U.S. companies with the biggest offshore holdings. Our calculator gives you an idea of how much more money Uncle Sam would make if all that income were declared in the U.S.
The calculator above lists the aforementioned 30 Fortune 500 companies with the biggest offshore holdings. They are ranked by the total value of their subsidiaries in offshore tax havens, in descending order.