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Web of Tax Shelters Saved Apple Billions, Inquiry Finds

Posted by Unknown on from the where-else-would-you-put-it dept.

mspohr writes with news that Apple might be in a bit of hot water over its policy of offshoring revenues to favorable tax jurisdictions. Only they take it a step further, from the article: "Apple relied on a 'complex web of offshore entities' and U.S. tax loopholes to avoid paying billions of dollars in U.S. taxes on $44 billion in offshore income over the past four years ... The maker of iPhones and iPads used at least three foreign subsidiaries that it claims are not 'tax resident in any nation' to help it avoid paying billions in 'otherwise taxable offshore income,' the Senate Permanent Subcommittee on Investigations said in a statement yesterday."

3 of 716 comments (clear)

  1. But was it illegal? by frdmfghtr · · Score: 1, Troll

    Ok, so Apple took advantage of tax loopholes and routed income offshore. The real question is: was it illegal?

    How many other companies do the same thing? Is Apple being targeted just because they're Apple? Did they not make the right p

    When other international companies do the same thing?

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    Government's idea of a balanced budget: take money from the right pocket to balance...oh who am I kidding?
  2. Re:Did they break any laws? by cayenne8 · · Score: 1, Troll
    Since when has paying taxes had anything to do with morality?!?!?

    Aside from this sentence, I'd never have thought to use the words taxes and morality in the same sentence.

    How in the world do you conflate the two topics?

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    Light travels faster than sound. This is why some people appear bright until you hear them speak.........
  3. Re:Why do we still bother with corporate taxes? by roman_mir · · Score: 0, Troll

    Isn't it fascinating how much people hate paying their taxes while loving to impose higher taxes on others, especially on those, that make more than they do?

    AFAIC all income and wealth related taxes are immoral and must be illegal. All wealth transfer schemes are immoral and must be illegal. All taxes on income are also bad from POV of economics and must be stopped for that reason as well.

    Any scheme that uses violence (government power) to take away property (savings, wealth) and productive output (income, earnings, dividends, capital gains, rent) from people is immoral and must be stopped. If the government evil is necessary, it must be minimised by using direct apportioned and excise taxes in a completely transparent and open way that would allow people to vote away government for raising taxes.

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    You can't handle the truth.