Tuesday, May 21, 2013

"Apple used a 'complex web' of offshore entities — with no employees or physical offices..."

"... that allowed it to pay little or no taxes on tens of billions it earned overseas, according to a Senate investigation unveiled Monday."
While the practice of using foreign operations to avoid U.S. taxes is legal and common among multinationals, Apple’s scheme was unprecedented in its use of multiple affiliates that had no semblance of a physical presence, Senate staffers said.
Why wouldn't Apple do what is legal to avoid taxes?
“Apple claims to be the largest U.S. corporate taxpayer, but by sheer size and scale it is also among America’s largest tax avoiders,” [Senator John] McCain said.
Isn't that exactly what you would expect?

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