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Oxfam publishes new report on tax avoidance practices of US corporate giants & calls on govt. to ensure firms pay fair share of taxes
On 14 April 2016, Oxfam International published a briefing that discusses how the American tax regime facilitates corporate tax avoidance practices. The report estimates that the 50 biggest U.S. companies have hidden over 1 trillion dollars in overseas tax havens. According to Oxfam, these illicit tactics drain billions of dollars from the poorest countries in the world, contribute to soical inequality and hinder economic growth.