We added yet another Tax Avoidance Controversial Issue to the Xklude database.
The Institute on Taxation and Economic Policy (US) has identified at least 55 of the largest corporations in America that paid no federal corporate income taxes in their most recent fiscal year (2020) – despite enjoying substantial pretax profits in the United States.
26 of the 55 companies did not pay tax in 2018, 2019 and 2020 despite profit in all three years. These 26 companies are now registered under a new Controversial Issue entitled “Profitable US Company Paying Zero Income Tax 2018-2020.” This Controversial Issue is categorized within the “Tax Avoidance Category” and within “ESG Financial Issues”.
15 of the 26 companies are also linked to the Controversial Issue “Use of Offshore Tax Havens”. This Controversial Issue shows that 73 percent of the Fortune 500, operate one or more subsidiaries in tax haven countries.
The combination of the Controversial Issues, “Paying Zero Income Tax 2018-2020” and “Use of Offshore Tax Havens”, constitutes, anything but equal, higher risk of aggressive tax practices in the 15 companies mentioned.
Xklude Global ESG Media Coverage already shows negative attention
Xklude Global ESG Media Coverage already shows negative attention to the companies with a range of article related to this issue.
Investments in companies linked to issue
Xklude.com has registered investments from the largest Nordic institutional investors for at least 4,656,280,300 euros in the 26 companies Paying Zero Income Tax 2018-2020.
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