The US federal tax system is set up to enable the country’s wealthiest companies to hold massive amounts of money offshore, Judy Beals, Director of Private Sector Engagement at Oxfam America, told Sputnik.
In an interview with Sputnik, Judy Beals, Oxfam America’s Director of Private Sector Engagement, confirmed that thanks to US tax loopholes, the country’s wealthiest companies manage to hold massive amount of money offshore.The interview came after the publication of a new report by anti-poverty charity Oxfam, which said that the largest US corporations have nearly 1.5 trillion dollars hidden in tax havens.
“We took a look at the top fifty US companies and pulled together aggregate data on their tax behavior and benefits from the US government, among other things,” she said.
Beals pointed the finger at the US tax system, which she said made it possible for the…
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