Under Romney, Marriot Used Tax Avoidance “Scheme”
Republican presidential candidate Mitt Romney served on the board of directors of Marriot while the company pursued a tax avoidance maneuver the Department Of Justice described as a “fictitious” “scheme.”
Romney also served as chairman of Marriot’s audit committee. Bloomberg reports that Marriot hid profits in a Luxembourg-based shell company during this period and was able to pay an effective tax rate of 6.8% (the statutory rate is 35%).
Romney was responsible for oversight of Marriot’s tax planning, according to a statement the company gave to Bloomberg.
VIA Bloomberg
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