In recent months, people and their politicians around the world have been astonished to learn that big companies and billionaires will go to extraordinary lengths to pay lower taxes.
Thanks to the work of the International Consortium of Investigative Journalists, based in Washington, we have discovered that some of the most prominent public figures in the world have banked their fortunes in international tax havens, beyond the scrutiny of their national treasuries.
Meanwhile, Tom Bergin, my Reuters colleague, has become the scourge of the top US multinationals by revealing their low effective tax rate in Britain. Bergin has found that between 1998 and 2012, Starbucks paid less than 9 million (406 million baht) in British taxes while registering sales of more than 3 billion. According to statutory filings, Google made US$18 billion (539 billion baht) in revenue in Britain from 2006 to 2011, and paid just $16 million in taxes.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.