Wednesday, 16 Jun 2021

How to Save Billions in Taxes

More on the study that says ViacomCBS used international tax networks to cut its bill.

By Andrew Ross Sorkin, Jason Karaian, Sarah Kessler, Michael J. de la Merced, Lauren Hirsch and Ephrat Livni

Of tax shelters and ‘Transformers’

Our Times colleague Ed Lee, who wrote about a study finding that ViacomCBS used overseas tax shelters to avoid paying billions in U.S. taxes, goes deeper into the story for us:

Every multinational takes advantage of tax shelters, but the way ViacomCBS does it is particularly fascinating. The company behind the “SpongeBob,” “Mission Impossible” and “Transformers” franchises has avoided paying $4 billion in U.S. corporate income tax since 2002, according to a study from a Dutch nonprofit.

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