Oxfam finds $1.4tn tax cash ‘hidden’ in plain sight
More financial illiteracy in the Guardian. The headline tells us:
US corporations have $1.4tn hidden in tax havens, claims Oxfam report
Some work there by Oxfam’s investigations arm to find such a gigantic stash of “hidden” cash.
The charity’s analysis of the financial affairs of the 50 biggest US corporations comes amid intense scrutiny of tax havens following the leak of the Panama Papers.
And the charity said its report, entitled Broken at the Top was a further illustration of “massive systematic abuse” of the global tax system.
In 2012, said Oxfam, US firms reported $80bn of profit in Bermuda…
Not hidden at all, then. The billions were all laid on in the companies’ accounts.
Now whose for a game of hide and seek, Oxfam style?