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568 tax haven subsidiaries … and counting
21 February 2011 12:47
[Image: chris.jpg]Chris Jordan, Tax Justice Campaigner
More great ActionAid coverage in the Mail on Sunday this weekend, following on from our discovery that almost half the companies in the FTSE 100 do not fulfil their legal obligations to list all their subsidiaries.
So far 15 companies have disclosed a full list of their subsidiaries and we've found a whopping 568 are based in tax havens. As we showed in our research into SABMiller, tax havens are used by big companies to lower their tax bills, which cost both rich and poor countries billions.