How Inditex Shifts Profits to Reduce Taxes
Global retail giant Inditex SA, parent company of popular fast-fashion brand Zara, records little income in countries where it has its stores, thanks in part to a complex tax avoidance arrangement that shifts profits into a tiny Dutch unit. See how it works:
Published Feb. 26, 2013
Sources: Inditex reports, data compiled by Bloomberg
GRAPHIC: DAVID INGOLD / BLOOMBERG VISUAL DATA