Essay Example on Multinational corporations tax avoidance

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Multinational Corporations A multinational corporation is a corporation that is in more than one country or has assets in more than one country Multinational Corporation MNC Some examples of multinational corporations include Facebook Amazon Microsoft and Apple Grey These corporations all have their headquarters in the United States but have reached out to other countries to make their corporations bigger and better What these corporations don't want you to know is how harmful they are to our world Coca Cola is a very popular multinational corporation but has taken 1 5 million liters of well water in India and has left them with a water shortage contaminated water and ruined their agriculture activity International Coca Cola has also been sued by 2 000 African Americans for race based wages and hours International We need to better regulate multinational corporations because they avoid paying taxes find cheap labor in undeveloped countries and are big contributors to the pollution in our environment Multinational corporations are known for avoiding taxes and having huge cash reserves in other countries The United States has the highest tax rate at about 35 Holt Multinational corporations make huge profits by keeping most of their money overseas where taxes aren't as expensive Starbucks Amazon and Google have all been caught avoiding taxes Last year in the United Kingdom Starbucks had sales of 400 million euros and paid no corporation tax Holt In 2011 Amazon had 3 35 billion euros worth of sales and a tax expense of only 1 8 million euros Holt 



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There is 2 5 trillion dollars of American money kept overseas Cox That is a huge chunk of money that the United States cannot tax Since huge corporations are avoiding taxes their profits are skyrocketing It is great for them but that means less money is being given to the government The United State's government is currently over 20 1 trillion dollars Amadeo Our government provides vital services like national defense welfare and education If multinational corporations hide their money in other countries so they aren't taxed then our government could suffer Multinational corporations need to be better regulated to end tax avoidance Another reason why multinational corporations are negative in our society is because they are a big reason why so many people are unemployed in the United States These corporations are all about big profit so they go to undeveloped countries and hire cheap labor These corporations go and seek out employees from other countries to do blue collar jobs For example in 2000 multinational corporations cut their workforce in the United States by 2 9 million and then increased the amount of employees in other countries by 2 4 million Lach If more and more companies do this then the unemployment rate will rise greatly and there won't be as much money being circulated through our economy We need to find a way to keep multinational corporations from leaving the United States so employment rates and our economy will remain stable

Another reason why multinational corporations are considered a bad thing is because of how bad they are for our environment Thirty three multinational corporations have been punished for violating environmental laws in China Multinational Corporations Violating These corporations are too busy trying to make a profit that they do not pay attention to how harmful they are to the environment For example Walmart is one of the biggest polluters in the country They have an annual output of of 45 million metric tons of carbon 5 Walmart has also violated the Clean Water Act by being caught disposing pesticides and other chemicals illegally 5 Walmart has had to pay more than 100 million dollars in fines because of not handling toxins correctly 5 Multinational corporations need to start becoming more green especially if their corporations keep on growing We could potentially see global warming like never before thanks to multinational corporations Some people believe that multinational corporations help out undeveloped countries by helping out the countries economy s They are false because multinational corporations run local businesses out of business 



These corporations make it almost impossible for the local businesses to compete with their lower prices so they have to close down If the multinational corporation ever left that country there would be no other businesses and their economy would suffer greatly Impact Others believe that multinational corporations transfer important skills to their employees in other countries These employees are gaining very few skills and are doing hard labor for very little money Many times factories have been found to be an unsafe working environment These employees are working long hours everyday for just pennies Apple has been accused of exploiting their chinese workers by making them work more than 80 hours of overtime a month not allowing them to speak and some were forced to work through their breaks Chamberlain Multinational corporations need to treat every employee the same regardless of where they are from If these corporations wanted to transfer skills they should develop trade schools or colleges to educate them Also they need to raise their wages and provide a better working environment Overall multinational corporations cause issues in our world whether it is economically or environmentally Multinational corporations do not help other countries with their economy technology development or their skills If we better regulate these corporations that avoid taxes find cheap labor and are bad for the environment then multinational corporations could potentially be a positive thing in our world



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