US firms have US$1.6t in tax havens: Oxfam
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Washington
THE 50 largest US companies, including Apple, Microsoft and Wal-Mart, are parking about US$1.6 trillion in offshore tax havens to reduce their US tax burden, according to a study published on Wednesday.
Poverty-fighting organization Oxfam America said the sum for 2015 was a US$200 billion increase over the prior year. The report cites the companies' own data.
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