‘…Walmart hid $76bn of assets in tax havens across the world, including $64.2bn managed by 22 different subsidiaries in Luxembourg, where Walmart has no stores, according to a study published on Wednesday.
The study, published by campaign group Americans for Tax Fairness and funded by the United Food and Commercial Workers International Union, alleged that Walmart has “kept its tax haven subsidiaries secretive by burying mention of their existence”. Walmart denied the claims.
[….] According to the report, since 2011 Walmart has transferred ownership of its stores in Brazil, Japan, Puerto Rico and South Africa to Luxembourg. It claims that Walmart’s Luxembourg operations paid less than 1% in tax on profits of more than $1.3bn between 2010 and 2013…‘
via Walmart hid $76bn of assets in foreign tax havens, new study claims | Business | The Guardian.
