The US Government Loses As Much As $111 Billion Annually Due to Corporate Tax Dodging –

The report estimates that the US loses $111 billion a year and that developing countries lose $100 billion annually due to corporate tax dodging. From 2008-2014, according to the report, the top 50 American corporations reported $4 trillion in profits and paid $1 trillion in taxes globally, with only $412 billion of that going to the federal US government. At the same time, they received $11.2 trillion from the government “in the form of loans, loan guarantees, and bailout assistance,” in addition to $337 billion in tax breaks.

The use of tax havens allowed the surveyed firms to reduce their overall effective tax rate to 26.5 percent on average, 8.5 percent lower than the statutory rate of 35 percent. For each dollar they paid in federal taxes, according to the report, the top 50 US firms received $27 in federal support.

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