Wal-Mart using tax havens to cut taxes on foreign operations: report

Walmart owns at least $76 billion in assets through shell companies domiciled in Luxembourg and the Netherlands, the report said. The world's largest retailer does not list these subsidiaries in its annual filings with the U.S. Securities and Exchange Commission. Subsidiaries in tax havens own at least 25 of Wal-Mart's 27 foreign operations, in countries such as the United Kingdom, China and Japan, the report said.

Wal-Mart using tax havens to cut taxes on foreign operations: report source: http://finance.yahoo.com/news/wal-mart-using-tax-havens-125107931.html