The 82%
The US Public Interest Research Group has published a new study finding that 82 of the top 100 publicly-traded US corporations have subsidiaries in offshore tax havens:“All told, these 82 companies maintain 2,686 tax haven subsidiaries. The 15 companies with the most money held offshore collectively operate 1,897 tax haven subsidiaries.…Bank of America: The bank reports having 316 subsidiaries in offshore tax havens – more than any other company. The bank, which was kept afloat by taxpayers during the 2008 financial meltdown, now keeps $17.2 billion offshore, on which it would otherwise owe $4.5 billion in U.S. taxes.”