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The report details how Walmart used 78 different subsidiaries in 15 different offshore tax havens where it is not subject to American tax laws. The tax haven where the company keeps the most subsidiaries is Luxembourg.
It reported paying less than 1 percent in tax to Luxembourg on $1.3 billion in profits from 2010 through 2013.”
The report notes that the company's “use of inter-company debt permits it to avoid taxes overseas. It strips earnings out of higher-tax countries by taking out inter-company loans and pays interest to itself in tax havens where the interest income is taxed lightly or not at all.”
Altogether, the report estimates that 37 percent of Walmart's total assets exist within shell companies that are parked in overseas tax havens, including 90 percent of the assets in Wal-Mart's international division.
As a representative democracy with a constitutional monarch, it is headed by a grand duke, Henri, Grand Duke of Luxembourg, and is the world's only remaining grand duchy. Luxembourg is a developed country, with an advanced economy and the world's highest GDP (PPP) per capita, according to the United Nations in 2014.
Luxembourg is a founding member of the European Union, NATO, OECD, the United Nations, and Benelux, reflecting its political consensus in favour of economic, political, and military integration. The city of Luxembourg, which is the capital and largest city, is the seat of several institutions and agencies of the EU.
Americans for Tax Fairness concludes the report by asking the European Commission to review Walmart's status in Luxembourg, questioning if the country's deals with the company amount to illegal state aid. It is also requesting the Internal Revenue Service to audit the company's use of overseas tax havens. Finally, it is asking the Securities and Exchange Commission to probe why Wal-Mart has not been disclosing its overseas tax havens in its U.S. tax filings.
The NWO is here but it's not the government we should be afraid of anymore.
It's like an escaped herd of predators - these conglomerates - with NO CENTRAL OVERSIGHT, no fences, and no watchdogs that have enough bite to keep them from these despicable dealings.
In Luxembourg, Walmart utilizes 22 shell companies, with 20 of them established since 2009, five of them established just this year.
originally posted by: Urantia1111
a reply to: BuzzyWigs
Ah, clever! This is the quintessential 'American Way' youve heard tell about. Must be how they keep prices so low. Are they doing anything illegal or just being shrewd business people?
ETA most of their customers pay little-to-no income tax either. Goose, id like you to meet Gander. You two should have lots in common.
originally posted by: BuzzyWigs
I don't know - but, if corporations are going to be "global", then there should be "global" standards of doing business. In my opinion.
originally posted by: BuzzyWigs
It should be, globally, a NONZERO sum. Robert Wright is the author of a fantastic book entitled NONZERO. If you're interested, let me know and I'll post the link again.