"Tax Avoidance: Nike “Just Did It” Again, Moving $1.5 Billion Offshore Last Year

The Nike Corporation’s annual financial disclosure of income tax payments is always notable for two recurring trends: the Oregon-based company’s steady shifting of profits into offshore tax havens, and Nike’s apparent effort to conceal how it’s achieving this tax avoidance. This year’s report, released earlier this week, is no exception.

Nike now holds $12.2 billion of its profits offshore as “permanently reinvested earnings,” up from $10.7 billion last year. Designating its profits this way allows the company to avoid paying even a dime of U.S. income taxes on these profits until they are repatriated to the U.S."

https://itep.org/tax-avoidance-nike-just-did-it-again-moving-1-5-billion-offshore-last-year/