September 8, 2021

The Intercept: Companies Lobbying Infrastructure Tax Increase Have Avoided Paying Billions in Taxes

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A 2016 report from the U.S. Public Interest Research Group, Citizens for Tax Justice, and the Institute on Taxation and Economic Policy found that Bristol Myers Squibb held $25 billion across 23 tax haven subsidiaries. In 2012 the company set up a tax haven subsidiary in Ireland, which the IRS later described as an “abusive” tax shelter that could allow the company to avoid paying $1.4 billion in taxes.  Read more