Saturday, November 27, 2021

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They revealed millionaire mechanism for tax evasion in US

They revealed millionaire mechanism for tax evasion in US

Washington, June 10 (Prensa Latina) Documents from the American tax collection office revealed today that main multimillionaires in the country made use of a tax evasion mechanism and barely paid and effective rate of 3.4 percent of their obligations.
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Reports from the Internal Revenue Service agency (IRS), charged with tax collection published by ProPublic organization, the 25 wealthiest people in this country have increased their fortune from 2014 to 2018 in 401 thousand million dollars and have only paid tax authority 13 thousand 600 millions.

Revelations come at a time in which within the G20 debates are held for a minimal taxation for big companies of at least 15 percent.

According to ProPublic, big thechnological companies´ wealth increased amidst a growing public debt in different countries due to expenses to face Covid-19.

CEO´s from the mentioned companies are among a handful of multimillionaires making use of tax evasion strategies unreachable for the rest of the citizens.

In 2007, Jeff Bezos, now the richest man in the world, did not pay a single cent in income tax and ¨repeated his feat¨ in 2011, according to documents revealed by ProPublic, US´ most important non-lucrative investigation journalism project.

In 2018, founder of Tesla, Elon Musk, second wealthiest person in the planet did not pay federal income taxes, either.

According to the investigation, Michael Blommberg, New York´s ex Mayor and founder of the news service carrying his name managed to accomplish the same exploit in the last years.

pgh/lcp

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