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New Report: 72% of Fortune 500 Companies Used Tax Havens in 2014


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New Report: 72% of Fortune 500 Companies Used Tax Havens in 2014

WASHINGTON - WHAT: U.S. PIRG and Citizens for Tax Justice will release a new report that analyzes the use of tax havens by America’s Fortune 500 companies in 2014. Many of America’s wealthiest and largest multinational corporations use tax loopholes to shift profits made in America to offshore tax havens like the Cayman Islands, where they pay little to no taxes. The study examines which companies operate subsidiaries in tax haven jurisdictions, the amount they have booked offshore, and the federal taxes they would owe if they paid the full tax rate on their profits.

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