Study: Apple tops list of biggest tax-avoiders using tax shelters abroad

Study: Apple tops list of biggest tax-avoiders using tax shelters abroad

According to a new study authored by researchers from Citizens for Tax Justice, the Institute on Taxation and Economic Policy and the U.S. PIRG Education Fund, 73% of U.S. Fortune 500 firms — more than 300 corporate giants — have money stashed in tax shelters abroad, including the Netherlands and Bermuda. Five of the top 10 biggest tax-avoiders — ranked by dollar amount held offshore — are big tech companies, with Apple ranked as No. 1 and Microsoft at No. 3.

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