This is the type of results which Tax Havens make possible.
These are some of the largest corporations in the world. Figures are 2009/2010 & are from Forbes/ New York Times.
Exxon Mobile: profit $37 Billion. USA tax paid Zero. Tax refund $15 Bil !
Bank of America: profit $4.4 Bil. USA tax paid Zero. Tax refund $1.9 Bil !
General Electric: profit $14 Bil. USA tax paid Zero
Best estimates are that 60% of USA multinationals paid Zero tax in USA, and pay absolutely minimum taxes in the countries in which they earn their profits. This style of doing business has enabled the accumulation of massive accounts in Tax Havens.
Apple Inc. $181 Billion
Gen Elect. $119 Bil
Microsoft.$108 Bil
Pfizer. $74 Bil
J.& J. $53 Bil
Google. $47 Bil
These 2015 figures are from G Zucman’s book, Hidden Wealth of Nations.
