The 50 largest U.S. companies, including Apple, Microsoft and Wal-Mart, are parking about $1.6 trillion in offshore tax havens to reduce their U.S. tax burden, according to a study published Wednesday. Poverty-fighting organization Oxfam America said the sum for 2015 was a $200 billion increase over the prior year. The report cites the companies’ own data.
While the corporate tax rate is nominally 35 percent at the federal level, Oxfam said these 50 companies had an effective rate nearly 10 percentage points lower.
Article source: http://www.dailystar.com.lb//Business/International/2017/Apr-13/401757-oxfam-large-us-firms-stashed-16-trillion-in-tax-havens.ashx