Monday, October 4, 2010

Exxons Income Tax: $0

So, great headlines and bad news. The great headlines is, oil megacorporation ExxonMobil had such a essential year in 2009, it contributed $15 billion to the worlds taxation coffers.The bad news:&Not a cent of that went to the IRS.ExxonMobil, the worlds second-largest company, says it essentially paid out 47 percent of the increase in taxes, but not to the great ol" entrepreneur US of A. Says Forbes in a inform on all the taxes of the USs tip twenty-five firms (with combined emphasis):Exxon tries to extent the taxation suffering with the assistance of twenty unconditionally owned subsidiaries domiciled in the Bahamas, Bermuda and the Cayman Islands that (legally) preserve the money upsurge from operations in the likes of Angola, Azerbaijan and Abu Dhabi. No consternation that of $15 billion in income taxes last year, Exxon paid none... Click here to review the complete article...
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