Apple uses firms outside US to avoid tax

 

APPLE Inc employs a group of affiliate companies located outside the United States to avoid paying billions of dollars in US income taxes, a Senate investigation has found. 

The world's most valuable company is holding overseas some $US102 billion ($105.08 billion) of its $US145 billion ($149.38 billion) in cash, and an Irish subsidiary that earnt $US22 billion ($22.66 billion) in 2011 paid only $US10 million ($10.30 million) in taxes, according to the report issued overnight by the US Senate Permanent Subcommittee on Investigations.

The strategies Apple uses are legal, and many other multinational corporations use similar tax techniques to avoid paying US income taxes on profits they reap overseas.

But Apple uses a unique twist, the report found.

The company's tactics raise questions about loopholes in the US tax code, lawmakers say.

news.com.au 21 May 2013

This occurs in Australia also, where a significant portion of the large corporations are registered overseas to avoid tax.

The corporate media hardly ever mentions that there is going to be blitz or crackdown on the fraudulent operations of some of Australia's best known companies and brands.

Instead the tax office 'cracks down' on the tax paying plebs.

Allegedly tax 'avoidance' is illegal, so therefore Apple should now have legal proceedings against it, which will be mentioned in the corporate media very soon.

Apple is one of the larger data collection warehouses in the United States of America, along with Microsoft, Google, Yahoo, America Online, to name a few.

They work together with governments to collect data on individuals.