Walmart Accused of Stashing $76 Billion in Assets in 78 Foreign Tax Havens

‘Walmart, the biggest retailer in the world, uses foreign tax shelters to stash $76 billion in assets in order to reduce the amount of taxes it has to pay to the U.S. government.

A report (pdf) from Americans for Tax Fairness said Walmart had at least 78 offshore subsidiaries and branches to stash the assets where they’re not subject to U.S. corporate tax rates.

The study, which used information provided by the United Food & Commercial Workers International Union, said 90% of the havens were based in Luxembourg and the Netherlands. Bloomberg reported “overseas operations have helped the company cut more than $3.5 billion off its income tax bills in the past six years.”’

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