Deirdre Fulton – Report Shows US Corporate Tax Dodging Still Rampant, Still Legal

A new report released Tuesday reveals how “U.S.-based multinational corporations are allowed to play by a different set of rules than small and domestic businesses or individuals when it comes to paying taxes”—to the tune of more than $100 billion every year.

The analysis from the U.S. PIRG Education Fund, Citizens for Tax Justice, and the Institute on Taxation and Economic Policy finds that in 2015, more than 73 percent of Fortune 500 companies maintained subsidiaries in offshore tax havens, including top offenders Apple, Citigroup, Nike, Pfizer, PepsiCo, and Goldman Sachs. By doing so, the corporations are avoiding up to $717.8 billion in U.S. taxes, total.

“Corporate tax dodging may be legal, but it’s certainly not good for everyday taxpayers and responsible small businesses.”
—Michelle Surka, US PIRG

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