Rigged Reform: US companies dodging billions in taxes but proposed reforms will make things worse

Big US companies are increasing their use of tax havens and boosting their investment in political lobbying in order to push for even greater tax breaks. 

The 50 biggest US companies, including global brands Pfizer, Goldman Sachs, GE, Chevron, Wal-Mart, and Apple, stashed $1.6 trillion offshore in 2015 –  $200 billion more than the previous year - according to a new report by Oxfam. 

The report, ‘Rigged Reform,’ reveals that big US companies are increasing their use of tax havens and boosting their investment in political lobbying in order to push for even greater tax breaks.  It warns that President Trump’s proposed tax reforms will further rig American tax laws in favour of the rich and powerful and intensify the destructive global race to the bottom on corporate tax - at the expense of poor communities in the US and around the globe.

Publication Date: 
April 2017