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Nike facing billions in back taxes in the EU accused of gaming Netherlands tax rulings to hide revenue in offshore subsidiaries & accounts. #ButNothingsHappening icij.org/investigations…
Looks like many of the usual suspects were playing the same games including Amazon & Apple. Nike is accused of playing shell games with $12.2 billion in earnings. 
The Swamp creatures in several European countries were arranging secret tax rulings that allowed companies to hide earnings from taxation. Used as a way to convince businesses to locate to those nations.
Nike arranged the movement of cash as royalty payments to shell companies with no employees. Sweetheart deals to say the least.
Where did they move the money to? Bermuda to take advantage of tax & bank secrecy laws.
Yeah, I'm sure we all find it credible that parking $12 Billion dollars tax free in Bermuda is just a reflection of their organizational structure.
Of course when this tax issue arose, Nike just switched to a different shell company to hide the revenue!
Don't think it was just Nike, they were just one of the first & biggest to get caught. 214 of the 500 largest US multinational corporations have similar subsidiaries set up in the Netherlands. They've promised to stop letting companies do it, but haven't released a form yet!
Obviously the #PanamaPapers have fed this process. So more investigations are underway! #MoneyLaundering #JustDoIt
