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Mar 30th, 2013 Comments: 0

Carnival CEO comes under Congressional heat

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Sen. Jay Rockefeller is outraged by what he sees as Carnival’s abuse of the loopholes in the tax system. However, Carnival has said they pay all the taxes they are required to. Rockefeller, chairman of the Senate Commerce Committee, told Rock Center’s Harry Smith that he regards Carnival “very poorly” as a corporate citizen. Rock Center commissioned S&P Capital IQ to look into Carnival’s taxes and their team found that on billions of dollars in profits over five years, Carnival paid only .6 percent taxes. But Rockefeller believes that Carnival’s extremely low tax rate — while legal — is “disgusting” because of its frequent use of government services.

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