An estimated 30 percent of multinational corporate profits - TopicsExpress

An estimated 30 percent of multinational corporate profits passing through tax havens costs the U.S. taxpayer $255 billion annually; this includes not only lost individual income taxes but also vastly more in lost corporate taxation (based on crude calculations from the Government Accounting Office in 2008 of the one hundred largest U.S. companies’ subsidiaries abroad and especially in tax havens).22 Citigroup alone had over 400 tax-haven subsidiaries, ninety-one in Luxembourg, and another ninety in the Cayman Islands monthlyreview.org/2014/09/01/the-criminality-of-wall-street/

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