The organization behind this study is far from impartial. But that doesn’t mean the report is not reliable. And note that there’s no claim here that Walmart is doing anything illegal. The key question, of course, is whether it is unethical — or socially irresponsible — to take legal measures to avoid paying extra taxes. If you personally spotted a legal way to pay lower income tax, would you do it? >>>
LINK: Wal-Mart has $76-billion in overseas tax havens, report says [Globe & Mail]
Wal-Mart Stores Inc. owns more than $76-billion (U.S.) of assets through a web of units in offshore tax havens around the world, though you wouldn’t know it from reading the giant retailer’s annual report.
A new study has found Wal-Mart has at least 78 offshore subsidiaries and branches, more than 30 created since 2009 and none mentioned in U.S. securities filings. Overseas operations have helped the company cut more than $3.5-billion off its income tax bills in the past six years, its annual reports show….
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Units in Luxembourg – where the company has no stores – reported $1.3-billion in profits between 2010 and 2013 and paid tax at a rate of less than 1 per cent, according to the report….
What do you think?
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