TV News LIES

Tuesday, Sep 18th

Last update05:20:13 AM GMT

You are here News Economy OECD Enables Companies to Avoid $100 Billion in Taxes

OECD Enables Companies to Avoid $100 Billion in Taxes

E-mail Print PDF

OECD helps companies avoid taxesHeadquartered in a former Rothschild chateau in an affluent Parisian neighborhood, the Organization for Economic Cooperation and Development is best known for earnest conferences on economic and social policy.

With little outside attention, it also plays a pivotal role enabling global corporations such as Google Inc. (GOOG), Hewlett- Packard Co. and Amazon.com Inc (AMZN). to dodge taxes by shifting profits into offshore subsidiaries, costing the U.S. and Europe more than $100 billion a year.

OECD officials “have been digging themselves deeper and deeper into a hole by blindly pursuing a mistaken approach that allows multinationals to avoid taxes,” said Sol Picciotto, an emeritus professor of law at Lancaster University in the U.K.

A quasi-governmental body that helps some of the world’s biggest economies set tax policy, the OECD writes guidelines letting companies avoid taxes by moving income into tax havens, a practice it deems legal. The organization has long enjoyed a close relationship with industry. Its three top tax officials left in 2011 and 2012 to join firms that help companies avoid taxes by taking advantage of laws to move profits to locations such as Bermuda and Mauritius.

TVNL Comment:  The one percent continue to pay taxes after taxes.  The ninety nine percent always find ways to avoid them.  Predatory capitlism continues to thrive, unchallenged.

More...


Most Recent Related Stories...


China Tariff Retaliation Will Hit $60 Billion of U.S. Goods

Trade war with China China announced it will take retaliatory tariff action against $60 billion of U.S. goods, sharply escalating...

U.S. businesses roll out campaign to end tariff wars

US businesses roll out campaign against teriff warU.S. businesses have united in a campaign to be unveiled on Wednesday against President Donald Trump's...

Trump to announce $200B in tariffs on Chinese goods as early as Monday: report

Trump to announce tariffs on China as eartly as MondayPresident Trump will announce $200 billion in tariffs on Chinese goods early next week, despite his administration's...

Federal deficit soars 32 percent to $895B

ocbThe federal deficit hit $895 billion in the first 11 months of fiscal 2018, an increase...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!