Walmart’s extensive use of tax havens exposed in report 

Walmart has stashed billions in 78 subsidiaries and branches located in 15 overseas tax havens, employing well-known international tax strategies to avoid paying foreign taxes in countries where it has retail operations and US taxes on foreign earnings, writes Americans for Tax Fairness in a June 17 report.

Luxembourg is the company’s “tax haven of choice,” the group writes, home to 22 shell companies, but no retail stores. Walmart reported paying less than 1 percent in tax to Luxembourg on $1.3 billion in profits from 2010 through 2013, the group notes.

The group calls for investigations by the US IRS and SEC, as well as by the European Commission for potential state aid violations.

See:

• The Walmart Web: How the World’s Biggest Corporation Secretly Uses Tax Havens to Dodge Taxes | Americans for Tax Fairness