--- description: That's an obscene amount of tax dodging, according to Oxfam's new report. title: Oxfam: Top U.S. Corporations Have Stashed $1.4 Trillion Offshore image: https://static.time.com/v3/assets/bltea6093859af6183b/blt449462c53d724394/69888f233c1639038e45cdbc/tax-evasion-50-companies-us-oxfam-report.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  * [Business](/section/business/) ## Business Update your preferences in [Account Settings](/account/preferences/) Close * [Companies](/tag/companies/) ## Companies Update your preferences in [Account Settings](/account/preferences/) Close # Oxfam: Top U.S. Corporations Have Stashed $1.4 Trillion Offshore  by [Julia Zorthian](/author/julia-zorthian/)  ## Julia Zorthian Update your preferences in [Account Settings](/account/preferences/) Close Apr 14, 2016 2:03 PM CUT  Bermuda, Southampton Parish, South Coast Beaches, Chaplin Bay Bermuda, Southampton Parish, South Coast Beaches, Chaplin BayGavin Hellier—Getty Images/AWL Images RM  by [Julia Zorthian](/author/julia-zorthian/)  ## Julia Zorthian Update your preferences in [Account Settings](/account/preferences/) Close Apr 14, 2016 2:03 PM CUT The top 50 U.S. companies have stored $1.4 trillion in tax havens, Oxfam America [reported Thursday](http://www.oxfamamerica.org/press/top-50-us-companies-stash-a-trillion-dollars-offshore-while-benefitting-from-trillions-in-government-support/ "undefined"). Oxfam released its new report, [“Broken at the Top,”](https://action.oxfamamerica.org/stoptaxdodging/ "undefined") ahead of Tax Day in the U.S. and [shortly after](http://www.theguardian.com/world/2016/apr/14/us-corporations-14-trillion-hidden-tax-havens-oxfam "undefined") of the [Panama Papers](http://time.com/4286371/panama-papers-leak-mossack-fonseca/ "undefined") leak to show the extent to which major corporations such as Pfizer, Walmart, Goldman Sachs, Alphabet, Disney and Coca-Cola keep money in offshore funds. The use of over 1,600 subsidiaries lowered their global tax rate on $4 trillion of profit to an average of 26.5%, compared to the statutory minimum of 35%, according to Oxfam. Additionally, for every dollar of taxes these companies paid, they collectively received $27 in federal loans, loan guarantees and bailouts — footed by American taxpayers. “The vast sums large companies stash in tax havens should be fighting poverty and rebuilding America’s infrastructure, not hidden offshore in Panama, Bahamas, or the Cayman Islands,” Oxfam America president Raymond Offenheiser [said in a statement](http://www.oxfamamerica.org/press/top-50-us-companies-stash-a-trillion-dollars-offshore-while-benefitting-from-trillions-in-government-support/ "undefined"). **Read More:** [**_Tax Havens Rob American Taxpayers_**](http://time.com/4292493/oxfam-report-tax-haven/ "undefined") ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/4293728/us-companies-tax-evasion-oxfam/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/4293728/us-companies-tax-evasion-oxfam/"},"headline":"Oxfam: Top U.S. Corporations Have Stashed $1.4 Trillion Offshore","datePublished":"2016-04-14T14:03:53.000Z","dateModified":"2026-02-22T16:44:57.765Z","description":"That's an obscene amount of tax dodging, according to Oxfam's new report","url":"https://time.com/4293728/us-companies-tax-evasion-oxfam/","keywords":["Companies","Google","Business topic"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt449462c53d724394/69888f233c1639038e45cdbc/tax-evasion-50-companies-us-oxfam-report.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Julia Zorthian","jobTitle":null,"url":"https://time.com/author/julia-zorthian/"}],"articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt449462c53d724394/69888f233c1639038e45cdbc/tax-evasion-50-companies-us-oxfam-report.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"tax evasion 50 companies us oxfam report","caption":"tax evasion 50 companies us oxfam report","creditText":"Gavin Hellier—Getty Images/AWL Images RM","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/companies/","name":"Companies"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/4293728/us-companies-tax-evasion-oxfam/","name":"Oxfam: Top U.S. Corporations Have Stashed $1.4 Trillion Offshore"}}]}] ```