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Web of Tax Shelters Saved Apple Billions, Inquiry Finds
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."
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?
Government's idea of a balanced budget: take money from the right pocket to balance...oh who am I kidding?
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?
Light travels faster than sound. This is why some people appear bright until you hear them speak.........