Wal-Mart Using Secret Foreign Tax Havens

A group called Americans for Tax Fairness released a report Wednesday alleging that Wal-Mart is dodging taxes using “a vast, undisclosed network of 78 subsidiaries and branches in 15 overseas tax havens.” The group also claims the retail giant doesn’t list these subsidiaries on their 10-K tax filings, which makes them harder to track. According to the report, at least 25 of Wal-Mart’s 27 foreign operations are owned by tax haven-housed subsidiaries. The majority of these subsidiaries are hidden in Luxembourg, Hong Kong, and the British Virgin Islands, which host a combined 47 of 78.