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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How???
by AndyB on Tue 21st May 2013 22:02 UTC
AndyB
Member since:
2013-03-22

So can someone explain to me how this is legal? How can a subsidiary claim no residency? This is like saying the company is homeless!

Reply Score: 4

RE: How???
by butters on Wed 22nd May 2013 07:17 in reply to "How???"
butters Member since:
2005-07-08

It doesn't have to be legal in all or most countries. It only has to be legal in Ireland. That's the beauty of being a multinational corporation: you get to choose the laws which will apply to your various subsidiaries and have governments compete for your investment by offering the best package of political sweeteners.

The only way that western governments can escape from this fiscal austerity death spiral is with import tariffs. The corporate tax is futile.

Reply Parent Score: 3

RE[2]: How???
by JAlexoid on Fri 24th May 2013 07:29 in reply to "RE: How???"
JAlexoid Member since:
2009-05-19

The only way that western governments can escape from this fiscal austerity death spiral is with import tariffs. The corporate tax is futile.

Not necessarily futile. It's just that Ireland and Netherlands have to fix their tax laws.

Reply Parent Score: 2