5 giant companies that are screwing the American taxpayer
Walgreens is just one of many companies trying to renounce their corporate citizenship
http://www.salon.com/2014/07/22/5_giant_companies_that_are_screwing_the_american_taxpayer_partner/?utm_source=facebook&utm_medium=socialflow
1. Walgreens
Walgreens is the US’ largest pharmacy retailer with 8,200 stores and locations in all 50 states, and the company is currently deciding whether to renounce its U.S. corporate status and instead claim on paper to be a Swiss company. According to Americans for Tax Fairness, this move would mean Walgreens avoids paying $4 billion in US taxes in the next five years.
Americans for Tax Fairness points out that “Walgreens receives nearly a quarter of its income from taxpayers through government programs. Of its $72 billion in 2013 sales, an estimated $16.7 billion, or 23 percent, came from Medicare and Medicaid.”
2. Medtronic
Medtronic Inc., a medical device maker with $17 billion in annual sales, is in the middle of purchasing Ireland’s Covidien for $42.9 billion as a tax-avoidance scheme.
3. Perrigo
4. Ingersoll-Rand
5. Eaton
Read more of how they're doing it at link.
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