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All-American Big Box Chain Writes Book On How to Avoid All-American Taxes

Got audited for not declaring your kids’ lemonade stand? Turns out Wal-Mart Stores Inc. owns more than $76 billion of assets through a web of its own “lemonade stands” all in offshore tax havens around the world. Those are not exactly highlighted in its annual report. But a study published by Americans for Tax Fairness finds the company has at least 78 offshore subsidiaries and branches, more than 30 created since 2009, and none mentioned in U.S. securities filings. Tally: $3.5 billion not declared. 

Read the whole story at Bloomberg »

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