• The New York Post reports that the Americans for Tax Fairness advocacy group is charging that "Walmart avoids $1 billion in federal taxes each year by exploiting loopholes, and could raise that figure by more than 70 percent if the corporate tax rate is cut … The world’s No. 1 retailer has cut its effective corporate tax rate to 29.1 percent from 35 percent, partly through the 'accelerated depreciation' of stores and other assets."
The report also suggests that Walmart has engaged in a tax-dodging scheme overseas, as evidenced by it decision to allow "cash profits overseas to pile up without reinvesting them in the business, more than doubling its overseas profits during the past five years."
Walmart has it "completely" disagrees with the report.
The report also suggests that Walmart has engaged in a tax-dodging scheme overseas, as evidenced by it decision to allow "cash profits overseas to pile up without reinvesting them in the business, more than doubling its overseas profits during the past five years."
Walmart has it "completely" disagrees with the report.
- KC's View:
