View Full Version : 568 tax haven subsidiaries … and counting

Magda Hassan
02-21-2011, 01:28 PM
568 tax haven subsidiaries … and counting
21 February 2011 12:47
http://www.actionaid.org.uk/pix/cms_upload/chris.jpgChris Jordan, Tax Justice Campaigner
More great ActionAid coverage (http://www.thisismoney.co.uk/markets/article.html?in_article_id=523203&in_page_id=3&position=moretopstories) in the Mail on Sunday this weekend, following on from our discovery (http://www.actionaid.org.uk/index.asp?page_id=102718) 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 (http://www.actionaid.org.uk/index.asp?page_id=102017), tax havens are used by big companies to lower their tax bills, which cost both rich and poor countries billions.

http://www.actionaid.org.uk/100621/Insight,_debate_and_campaigning_news_from_ActionAi d.html?article=2691