How Glencore Turns Copper Into Tax-Free Gold
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YouTubeOffshore Company Reg
How Glencore Turns Copper Into Tax-Free Gold
This $200B commodities giant makes copper and zinc — but earns gold in profits. In 2014, Glencore Australia made $24B in revenue but paid just $55M in taxes. How? 🇨🇭 It sold its products to its Swiss subsidiary first — where profits are taxed near zero. 🏦 Then, foreign subsidiaries lent money back to Australia at high interest ...
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