Goldman Sachs Maintains The Most Tax Havens Of Any US Company... By Far

Tyler Durden's picture

Multinational companies based in the United States are able to avoid paying an estimated $100 billion in federal income tax every year through the use of tax havens.

As Statista's Niall McCarthy notes, a recent report from the Institute on Taxation and Economic Policy has found that 366 of America's largest 500 companies maintain 9,755 tax haven subsidiaries holding over $2.6 trillion in accumulated profits.

Infographic: Which Companies Have The Most Tax Havens?  | Statista

You will find more statistics at Statista

Despite only having three tax haven subsidiaries in Ireland, Apple stashes the most cash off shore by far, some $246 billion which helps the company avoid $76.7 billion in U.S. taxes.

The Goldman Sachs Group maintains the most tax havens of any large U.S. company by far with 905 in total. That includes 511 in the 511 in the Cayman Islands (though the company does not have an office there), 183 in Luxembourg, 52 in Ireland and 41 in Mauritius.

Morgan Stanley is in second place with 619 tax haven subsidiaries while ThermoFisher Scientific rounds off the top three with 199.

Even though small island nations like Bermuda and the Cayman Islands are notorious for tax avoidance schemes, the Netherlands is actually the country most frequently used as a tax haven by American companies.

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cheka's picture

tariff that sh-t.  use revenue to reduce taxes on WAGES

either tariff or continue to get bled out by skype in nyc fire and cali tech

Bes's picture

Goldman Planning Largest Tax-Free Capital Repatriation Holiday - By Far.

There fixed it for you.

-------

ps - with trump's help

HockeyFool's picture

Pfizer has manufacturing plants all over the world. They choose to produce their block buster drugs in countries with the lowest tax rates.

Makes sense to me.

Not if_ But When's picture

Umm.  Really?  You think so?  Or do they just make it look that way?  (maybe your post is meant as sarcasm)      CPL593H

BennyBoy's picture

 

Netherlands is number 1 for USA tax havens

Theosebes Goodfellow's picture

~"Goldman Sachs Maintains The Most Tax Havens Of Any US Company... By Far"~

I mean like, they should, shouldn't they?

They are running the White House after all?

Isn't that worth something? /s

Oberst-Gruppenfuhrer's picture

Harvey Weinstein...oh wait...that's masturbator.  Either way...its the jews.

Mena Arkansas's picture

But Rabbi Cohn thinks you should pay higher taxes for gas to repair our rotting infrastructure.

cheka's picture

how is he on means testing to get some of your social seurity taxes back?  like the rest of the criminals of the red/blue party?

LetThemEatRand's picture

He's on that too.  If you have means, you don't need to be tested.  

LetThemEatRand's picture

Well obviously that's why Trump surrounded himself with Goldman Sachs people for his middle class tax cut.  

Trump:  "Hey Cohen, you know how to avoid taxes.  How can we help the middle class with paying less in taxes?"

Cohen:  "Let me write something up for you."

Trump:  "Excellent.  One thing bankers know is money.  MAGA"

ebworthen's picture

Thermo Fisher Scientific?  I've heard of a pap-smear but that is ridiculous.

We all knew the banksters were in on it. 

Bailouts 2.0 ahoy!

onmail1's picture

The zewish killing machine

Rex Andrus's picture

There are no Jews. Its all fake. It's all a vicious, gender confused sadist's trick http://andrewcarringtonhitchcock.com/

Yen Cross's picture

 It ain't called "The Squid" for nothing.

BarnacleBill's picture

Being a longtime resident (now long retired) of one of the notorious offshore tax-havens, namely the Cayman Islands, I'm always disappointed to read unfair criticism of them. Essentially, a tax-haven is a place that levies lower taxes on international businesses than their home bases levy. That's all there is to it, really. If dubious businesses like The Squid are able to take advantage of such places, it's by the deliberate design of the wicked legislators in the home bases. Any ZH reader of modest means could take the same advantage, if it was worth his while.

I blogged on this topic off and on for several years, and the post below from a few years ago is a handy two-minute summary of the procedure and rationale.

https://barlowscayman.blogspot.com/2013/01/offshore-tax-havens-what-they...

uhland62's picture

The Brits would have to change it or modify.

Until then the military protects the worldwide reach of these corporations and the little old taxpayer coughs up for their international protection, while the corporations enjoy largely costfree protection, stashing their dough in tax havens. If the population is dumb enough to not see - their fault. 

Nick O'Teen's picture

Why do the central banksters even need tax havens? Can't they just print the money to pay the taxes? They are the owners after all....

AncapSwede's picture

Rather they keep the money THEY earn than have the government squander it. 

venturen's picture

They don't have to pay taxes....but they get to pay for who you elect...and run the treasury.

Internet-is-Beast's picture

$100 billion in GS tax havens + $100 billion contibuted to the CF per Charles Ortel. Just goes to show...where our taxes go.

numapepi's picture

Must be nice...

Break the law to such an extent the government fines your company a cool billion and no one even looses their job let alone goes to jail...

Print money legally...

...and park money in tax havens, probably so executives can abscond with it in a SHTF scenario.

Pretty sweet gig.

Thisfuckenlife's picture

Good for them. The alternative is paying tax which DOESN'T get spent on public service and goes to finance the corrupt unions and their pledges anyways.

Kendle C's picture

In summary, your pension and Social Security has and is being stolen by these criminal tax dodgers. These fuckers had to put on another coat for more pockets to stuff their fucking bearer bonds into. This crime will continue as long as they stuff money into the mouths of anyone who objects, and they have all the money. How long until you demand that the drunken whores do something about it?