Sample of U.S. Corporations with Offshore Tax Havens
Corporation name Number of offshore subsidiaries
Citigroup…………………………………………………………......……....427
Morgan Stanley…………………………………………………...……….....273
Bank of America ………………………………………………………….…115
Wachovia……………………………………………………….......................59
Lehman Brothers…………………………………………………………........57
JP Morgan Chase……………………………………………………..…….....50
Goldman Sachs………………………………………………….………….....29
Merrill Lynch………………………..…………….......................………….....21
American International Group (AIG)…………………………..…………...…..18
Countrywide Financial……………………………………….……….…………7
News Corp……………………………………………………..……………...152
Procter & Gamble……………………………………………..………………..83
Pfizer…………………………………………………………………..………...80
Oracle…………………………………………………………….……………..77
Marathon Oil………………………………………………….………………...76
PepsiCo……………………………………………………………….………...70
Caterpillar…………………………………………………………….…………49
Merck ……………………………………………………………….…………..44
Boeing ……………………………………………………….…………………38
Dow Chemical…………………………………………….……………………35
Fluor Corp …………………………………………………………….………..34
Exxon Mobil………………………………………………………….…………32
UnitedHealth Group …………………………………………………....……..11
Best Buy…………………………………………………………………….…..12
Target………………………………………………………………….………….8
Source: U.S. Government Accountability Office, 2007. http://www.gao.gov/new.items/d09157.pdf
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