And They’re Buying a Stairway To Tax Havens – ConspiracyOz

Paradise Papers: The surprising journey your money takes after buying a pair of Nikes

Four Corners with the International Consortium of Investigative Journalists
www.abc.net.au

Extensive efforts by Nike to shift profits from high-tax countries to no-tax countries and minimise its tax bill internationally have been exposed.

An investigation by Four Corners has revealed intricate workings of the world’s largest sportswear retailer’s tax manoeuvring, based on 13.4 million documents revealed in the Paradise Papers leak.

The investigation, in conjunction with the International Consortium of Investigative Journalists from documents obtained by German newspaper Suddeutsche Zeitung, shows Nike’s Australian arm is owned by — and pays large amounts of money to — Nike companies housed in the low-tax destination of the Netherlands.

The company’s own filings show that Nike has only paid tax of 1.4 per cent on accumulated global offshore profits of $US12.2 billion.

But how do they do it?

Let’s have a look…

NikeTax

It’s a game called “profit shifting” and it makes tax officials — and the public — angry that profits are moved from high-tax countries to very low-tax countries.

Because that’s less money for roads and schools and hospitals. And fat profits for offshore companies, their lawyers and accountants.

Gardner says: “There is a strong and growing belief that government is not there to serve us and when it’s documented as well as it has been that companies like Apple and Google and Microsoft — these incredibly profitable companies — are just able to use the tax system like a pinata, that just reinforces the belief that no-one cares about the plight of middle income families.”

This Comment recently about Tax Havens is spot on – Mick Raven

(Nov 2017)

comment to tax havens 121117 abc

 

 

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Posted on November 16, 2017, in ConspiracyOz Posts. Bookmark the permalink. 1 Comment.

  1. More links to this Article – Mick Raven

    Paradise Papers
    https://en.wikipedia.org/wiki/Paradise_Papers

    Paradise Papers Exposes Donald Trump-Russia links and Piggy Banks of the Wealthiest 1 Percent
    https://www.icij.org/investigations/paradise-papers/paradise-papers-exposes-donald-trump-russia-links-and-piggy-banks-of-the-wealthiest-1-percent/

    The ATO is closing in on Australian links to the Paradise Papers
    https://www.businessinsider.com.au/the-ato-is-closing-in-on-australian-links-to-the-paradise-papers-2017-11

    Paradise Papers: What is the leak and who is behind the firm Appleby?
    http://www.abc.net.au/news/2017-11-06/what-are-the-paradise-papers-and-what-is-the-firm-appleby/9075640

    Appleby (law firm)
    https://en.wikipedia.org/wiki/Appleby_(law_firm)

    The Paradise Papers Data Dump: What’s Been Reported
    https://www.bloomberg.com/news/articles/2017-11-07/the-paradise-papers-data-dump-what-s-been-reported-so-far

    Paradise Papers: media ignores the real tax culprits
    https://www.michaelwest.com.au/paradise-papers-media-ignores-real-tax-culprits/

    Paradise Papers Tycoon made $41m from ‘people’s fund’
    http://www.bbc.com/news/world-africa-41906123

    Why the Paradise Papers should force change
    http://webcache.googleusercontent.com/search?q=cache:YVUkXFa7SiQJ:www.afr.com/news/world/why-the-paradise-papers-should-force-change-20171107-gzgy8l+&cd=7&hl=en&ct=clnk&gl=au&client=firefox-b

    Four things the Paradise Papers tell us about global business and political elites
    https://theconversation.com/four-things-the-paradise-papers-tell-us-about-global-business-and-political-elites-86946

    Like

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