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$1.6 trillion

Apple, Microsoft, other US firms hiding $1.6 trillion in offshore tax havens: Oxfam

WASHINGTON: The 50 largest US companies, including Apple, Microsoft and Wal-Mart, are parking about $1.6 trillion in offshore tax havens to reduce their US tax burden, according to a study published Wednesday.  Poverty-fighting organization Oxfam America said the sum for 2015 was a $200 billion increase over the prior year. The report cites the companies' own data. While not illegal, the companies "used a secretive network of 1,751 subsidiaries in tax havens to stash" their earnings outside the United States, Oxfam…