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2:00PM Water Cooler 5/17/2021 | naked capitalism


Politics
“But what is government itself, but the greatest of all reflections on human nature?” –James Madison, Federalist 51
“They had one weapon left and both knew it: treachery.” –Frank Herbert, Dune
“They had learned nothing, and forgotten nothing.” –Charles Maurice de Talleyrand-Périgord
Biden Administration
UPDATE “Biden to Send U.S.-Authorized Vaccines Abroad for First Time” [Bloomberg]. “President Joe Biden plans to send an additional 20 million doses of U.S. coronavirus vaccines abroad by the end of June including, for the first time, shots authorized for domestic use, where supply is beginning to outstrip demand. Biden will announce Monday that he’ll export 20 million doses of vaccines from Pfizer Inc., Moderna Inc. or Johnson & Johnson, on top of 60 million AstraZeneca Plc doses he had already planned to give to other countries, according to a senior administration official familiar with the plan. The official, who asked ....

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Uber Used 50 Dutch Shell Companies to Avoid Taxes on $5.8 Billion Revenue: Report


Riccardo Savi/Getty Images
Uber used around 50 Dutch shell companies to help reduce its global tax burden, an Australian research group found.
Despite earning $5.8 billion in global revenues in 2019, Uber claimed a $4.5 billion loss for tax purposes.
One researcher called Uber s alleged scheme the Champions League of tax avoidance.
Uber has been using a complex tax shelter involving around 50 Dutch shell companies to reduce its global tax bill, according to recent research from the Center for International Corporate Tax Accountability and Research.
In 2019, Uber claimed $4.5 billion in global operating losses (excluding the US and China) for tax purposes in reality, it brought in $5.8 billion in operating revenue, according to CICTAR, an Australia-based research group. ....

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'Champions League of tax avoidance:' Uber used 50 Dutch shell companies to dodge taxes on nearly $6 billion in revenue, report says


Champions League of tax avoidance: Uber used 50 Dutch shell companies to dodge taxes on nearly $6 billion in revenue, report says
tsonnemaker@insider.com (Tyler Sonnemaker)
© Provided by Business Insider
Uber CEO Dara Khosrowshahi. Riccardo Savi/Getty Images
Uber used around 50 Dutch shell companies to help reduce its global tax burden, an Australian research group found.
Despite earning $5.8 billion in global revenues in 2019, Uber claimed a $4.5 billion loss for tax purposes.
One researcher called Uber s alleged scheme the Champions League of tax avoidance.
Uber has been using a complex tax shelter involving around 50 Dutch shell companies to reduce its global tax bill, according to recent research from the Center for International Corporate Tax Accountability and Research. ....

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