Linked by Thom Holwerda on Tue 21st May 2013 21:45 UTC
Legal "There's a disconnect between how Apple CEO Tim Cook sees his company's tax strategies and how some members of the US Senate view it. That became clearer than ever today after Cook and two other Apple executives testified before Congress, explaining why they're holding most of their international income in Irish subsidiaries like Apple Operations International, which declare no tax residency anywhere in the world. AOI hasn't filed a tax return anywhere in the world for the last five years, yet it earned $30 billion in income from 2009 to 2012, according to a Senate report released yesterday." Just because something is legal, doesn't mean it's just. Apple, Google, Microsoft, and many more - these companies might not be breaking any laws, but it's obvious to anyone that what they are doing is scummy.
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It is not obvious...
by brichpmr on Tue 21st May 2013 23:40 UTC
brichpmr
Member since:
2006-04-22

That what Apple is doing is 'scummy.' According to Cook, AOI is a holding company where the money has already been taxed elsewhere, and the interest earned on that money is also taxed by the USA at a 35% rate. Cook is calling for a vastly simplified re-structure of the corporate tax system in America....worthwhile to consider and act on, IMHO.

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