Walter Hickey, Business Insider
Submitted by: Editor
Apple Avoids Paying $17 Million In Taxes Per Day
[Business Insider] A report published by the Permanent Subcommittee on Investigations gives an inside look on Apple's absolutely genius tax avoidance strategies. For example, Apple uses a variety of offshore structures and arrangements to shift billions of dollars from the United States to Ireland. The U.S. corporate tax rate is 35%, while Apple said it has negotiated a special corporate tax rate in Ireland of less than 2%*.
Apple has found the secret to not paying taxes. You just avoid taxes by not declaring a tax residency for the company that oversees the entirety of your international income.