US corporations have $1.4tn hidden in tax havens, claims Oxfam report | World news | The Guardian

US corporate giants such as Apple, Walmart and General Electric have stashed $1.4tn (£980bn) in tax havens, despite receiving trillions of dollars in taxpayer support, according to a report by anti-poverty charity Oxfam. Tax havens don’t need to be reformed. They should be outlawedRichard BrooksThe Panama Papers demonstrate that for all the fine words about transparency on tax, the world’s kleptocrats are still getting away with it Read moreThe sum, larger than the economic output of Russia, South Korea and Spain, is held in an “opaque and secretive network” of 1,608 subsidiaries based offshore, said Oxfam.

Source: US corporations have $1.4tn hidden in tax havens, claims Oxfam report | World news | The Guardian

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