US companies avoided over $700 billion in taxes in 2015: Study

‘The largest US corporations have managed to hold trillions of dollars in profits offshore in order to avoid billions of dollars in taxes, according to a new study by a group of researchers.
Fortune 500 companies have managed to shelter $2.5 trillion in profits offshore to avoid paying about $717 billion in taxes to the US government, according to an exhaustive study released on Tuesday.
The study shows that one of the practices that has become standard for Fortune 500 companies is to create subsidiaries in a country that has no income or corporate tax.’
Read more: US companies avoided over $700 billion in taxes in 2015: Study