WV Center on Budget and Policy > Press > WVCBP in the News > Report – $190 Billion Lost to Offshore Tax Dodges

Report – $190 Billion Lost to Offshore Tax Dodges

February 8, 2013

West Virginia Public News Service – According to Sean O’Leary, a policy analyst with the West Virginia Center On Budget and Policy, the state has closed one big loophole that had allowed companies to hide profits in other states. But he says it’s hard to confirm how much the state loses to offshore tax havens, because companies don’t even report the figures.  

“If it’s $10 million, if it’s a $100 million, it’s depriving the state of resources,” he says. “Could we be closing these loopholes to fix our budget problems, or should we be cutting things like higher education?” Read