Does Apple Use Shady Tax Gimmicks & Loopholes to Avoid Paying Fair Share of Taxes?

rotten-at-the-coreA new report by Senate investigators accuses Apple of taking advantage of tax gimmicks and loopholes that help the company avoid paying their fair share of US taxes.

The report says that Apple pays ‘little or no corporate tax in any country’.

Companies, no matter who they are or how big they are, should be forced to pay the true amount of taxes they owe, and not be able to use all kinds of loopholes to stash money overseas.

Senate investigators accuse Apple of wiring together a complicated system to shield billions of dollars in international profits from both U.S. and foreign tax collectors.

A report released ahead of Apple CEO Tim Cook’s inaugural Capitol Hill appearance Tuesday alleges the tech giant took advantage of numerous U.S. tax loopholes and avoided U.S. taxes on $44 billion in offshore, taxable income between 2009 and 2012 — a characterization Apple flatly rejects.

The bipartisan Senate probe also charges for the first time that Apple’s long established foreign entities, based in Ireland, don’t actually have tax-resident status there or anywhere else. The company



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