Monday, September 06, 2021

The Tax Crooks

 A Reuters report last year found that from 2018 to 2019, Shell reported $2.7 billion through offshore tax havens and avoided paying hundreds of millions of dollars in taxes.

In 2019, Australia charged Shell $755 million for six years' worth of taxes the company did not pay. 

The company reported that after getting tax refunds related to the closure of oil platforms, it paid no corporate income tax in the U.K. in 2018 on $731 million in profits.

Between 2008 and 2014, Walmart held more than $23.3 billion in offshore accounts and avoided paying more than $4.59 billion in U.S. taxes, according to a 2016 Oxfam report.

 In an arrangement internally known as Project Flex, the company routed money through an allegedly fictitious Chinese subsidiary which allowed it to avoid paying $2.6 billion in U.S. taxes between 2014 and 2017. 

The 2016 report from the U.S. PIRG, CTJ, and ITEP also found that Walmart reported zero tax haven subsidiaries despite having as many as 75.

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