Thursday, May 23, 2013
Walter Hickey, Business Insider
Submitted by: Editor

Apple Avoids Paying $17 Million In Taxes Per Day

Apple's aggressive tax avoidance schemes have been labeled by authorities as "genius". Their practices allow the company to avoid approximately $17 million is 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. 

Read the entire article >>

Posted by Editor on 05/23/13 at 08:41 AM •  (0) Comments

Tags:  taxes, tax fraud, apple,

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