Walmart dodged US tax on $2 billion by routing cash through multiple countries, whistleblower says

Walmart dodged US tax on $2 billion by routing cash through multiple countries, whistleblower says

Walmart, the world’s biggest company, underpaid US taxes on nearly $2 billion worth of offshore cash, according to whistleblower documents filed by a former Walmart executive to the Internal Revenue Service (IRS) in 2011, and recently obtained by Quartz.

The firm avoided nearly $200 million in taxes on that money and “dramatically” overstated its foreign tax credits in 2009 and 2010 by routing payments from Luxembourg to the United States via the United Kingdom and not declaring they came from a tax haven, the whistleblower wrote.

via Yahoo News Walmart dodged US tax on $2 billion by routing cash through multiple countries, whistleblower says

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