Wal-Mart Stores Inc. owns more than $76 billion of assets through a web of units in offshore tax havens around the world, though you wouldn’t know it from reading the giant retailer’s annual report.
A new study has found Wal-Mart has at least 78 offshore subsidiaries and branches, more than 30 created since 2009 and none mentioned in U.S. securities filings. Overseas operations have helped the company cut more than $3.5 billion off its income tax bills in the past six years, its annual reports show.
[–] SourPatchWatermelon 0 points 1 point 1 point (+1|-0) ago
Disgusting. Taxpayers are subsizizing Wal-Mart's part-time, un-benefited employees because Wal-Mart won't pay them more, and Wal-Mart is hoarding their money off shore to shirk even more monetary responsibility.
Wal-Mart is what is wrong with the world.
[–] Doomking_Grimlock 0 points 1 point 1 point (+1|-0) ago
Agreed. Having worked for WalMart, I know first hand what a piece of shit company they are. They're easily worse than Comcast, and they only stay in business by importing their crap from China and third world sweat shops, then underselling everyone around them. They're a fucking tumor on the face of America.