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  • 04.14.16

Oxfam: Apple stashes $180 billion in overseas tax havens

The tech giant holds more money overseas than any other American company, according to a data analysis by charity group Oxfam. Apple, which made $231.1 billion in profits from 2008 to 2014, has kept the money overseas through three subsidiaries, per the analysis. Other firms on the list include General Electric and Microsoft, which each store more than $100 billion outside of the country.

Oxfam, which says that tax dodging by multinational corporations costs the U.S. about $111 billion a year, concluded:

Tax dodging practiced by corporations and enabled by federal policymakers contributes to dangerous inequality that is undermining our social fabric and hindering economic growth.

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