Corporate tax evasion is a growing global phenomenon. The amount of money corporations stash in tax havens is greater than the size of the U.S. economy. What’s more absurd, 18,857 companies call a five-story building in the Cayman Islands “home.”
The U.S. alone stockpiles nearly $2 trillion foreign tax shelters to evade some of the highest effective tax rates in the world. Check out the following infographic on tax havens, which outlines some shocking figures concerning the state of foreign tax avoidance.
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