Experts say Walmart could be liable to pay hundreds of millions, based on a former executive's presentation reviewed by Quartz—if the IRS ever took it to court.
Max de HaldevangSCOOP: Walmart "improperly avoided" up to $2.6 billion in US tax through a "fictitious" Chinese entity, according to files written by a former exec.
It could lose a lawsuit if the IRS ever took it to court, experts said.
“One little wad of cash can be the difference between a poor country building big infrastructure or not,” a Ugandan tax official said.
Max de HaldevangThe big lesson to take from #MauritiusLeaks: Big Western companies systematically reap profits from African countries, then deprive them of tax revenue through crazy accounting contortions.
Leaked documents reveal the contortions some companies go through to avoid paying taxes.
Max de HaldevangI found that America's biggest venture capital firm @sequoia has invested more than a billion dollars in India while going through extraordinary machinations to avoid paying tax both there and in the US
A trove of leaked documents—known as the Mauritius Leaks—have shone a light on the contortions corporate giants go through to avoid paying taxes on money earned in some of the world's poorest countries.
At a Tokyo summit this weekend, G20 finance ministers are expected to give a thumbs-up to a "road map" proposing various ways to upend the system that lets many of the world's corporate giants get away with paying little-to-no tax.
Forget the Caymans or Switzerland—the US has some of the best places to hide your money from prying eyes
Max de HaldevangTHREAD: Today, millions of people are filing their returns in the world's biggest tax haven: The USA.
Kleptocrats, human traffickers, and money launderers flock to the US to stash their cash. I went on a journey to work out how this happened.