Disney implicated in tax scandal
A number of companies including Disney have allegedly used Luxembourg tax deals, according to new leaks published by investigative journalists.
Disney recently scored a worst Ethical Consumer rating for likely use of tax avoidance strategies in our guide to toys shops.
The BBC reports that Disney established an inter-company bank in Luxembourg which then extended high-interest loans to operating affiliates in countries such as France, reducing their taxable income, the ICIJ said.
Disney said: "The report is deliberately misleading, Disney's global tax rate has averaged 34% over the last five years. The ruling has not meaningfully affected the taxes we pay in any jurisdiction globally."
Fresh additions to the thousands of so-called Luxleaks documents were published on Wednesday in a report by the International Consortium of Investigative Journalists (ICIJ).
Documents relating to 35 new companies including Disney, Microsoft, Koch Industries and Hutchison Whampoa (both of which were previously under an Ethical Consumer boycott call over their involvement in tar sands exploitation) were added to data on hundreds of firms on Wednesday.
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Find out more about our tax justice campaign including our boycott of Amazon.
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