Major corporations and tax havens
This report builds on a finding in the United States that 83 per cent of the largest US companies have tax haven / secrecy jurisdiction subsidiaries. The report surveyed 97 of the largest quoted companies in the UK, the Netherlands and France. Of those companies all but one had tax haven subsidiaries. 99 per cent of the European quoted companies surveyed operate in tax havens. read more lessrelated content
How Mozambique’s tax treaties enable tax avoidance
Tax treaties deprive Mozambique of hundreds of millions of US dollars
Mozambique’s tax treaty network is depriving the country of hundreds of millions of US dollars in tax revenue each year, particularly through its treaties with Mauritius and the United Arab Emirates (UAE). Seventy percent of…
How much of Shell’s 2022 record profits will be registered in tax havens? Probably quite a lot.
Shell announced it made a record, eye-watering, $39.9 billion profits in 2022, as the world is facing multiple global crises. Analysis of Shell’s tax transparency reports over the past several years show that a substantial…
At least sixteen Gazprom subsidiaries in the Netherlands
The largest gas company in the world, Gazprom, has at least sixteen Dutch subsidiaries in Amsterdam, SOMO-research finds. The Russian state-owned company falls outside the current sanction rules, which means that Gazprom’s Dutch letterbox companies…
SOMO report on Moderna incites change
Moderna vaccine profits channelled to tax havens
Vaccine manufacturer Moderna is employing tax avoidance structures to shift its profits to Switzerland and the US state of Delaware, research by SOMO in cooperation with Wemos. The European Union ordered $10.3 billion worth of…
Moderna’s free ride
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American media giant ViacomCBS avoids at least US$ 4 billion in profit tax via the Netherlands
For almost two decades, ViacomCBS has been using the Netherlands to avoid paying at least US$ 4 billion in corporate income tax in the United States. This is the main conclusion from the new SOMO…
Rio Tinto: No progress, only hollow talk
Photo: Center for Biological Diversity As Rio Tinto prepares for its 9 April Annual General Meeting, campaign groups from five continents have come together to pressure the company to meet its commitments and answer demands…