Leaked documents show how 35 big companies ditched taxes
A group of journalists say Disney and Koch Industries are among 35 big companies that have been seeking secret tax deals in Luxembourg
LUXEMBOURG—A group of international journalists says leaked confidential documents show The Walt Disney Co., Koch Industries and other companies created a tangle of subsidiaries in Luxembourg that may have helped them slash the taxes they pay in the U.S. and Europe.
The International Consortium of Investigative Journalists on Dec. 10 named Disney and energy and chemical conglomerate Koch Industries as among 35 big companies it said had been seeking secret tax deals in Luxembourg.
The journalists’ group said it wasn’t possible to know how much the companies might have saved on their U.S. tax bills without seeing confidential tax filings to the Internal Revenue Service.
In a previous report that rocked the European Union, the journalists said sweetheart tax deals had been secretly granted by Luxembourg to hundreds of companies.
See two infographics showing how both Disney and Koch Industries developed vast, complicated international business structures to avoid paying taxes and loan payments at the International Consortium of Investigative Journalists web site.