[Vision2020] A Wormy Apple

[Art Deco]

[image: The New York Times]
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        BREAKING NEWS Monday, May 20, 2013 5:08 PM EDT          Apple
Avoided Billions in Taxes, Congressional Panel
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Even
as Apple became the nation’s most profitable technology company, it avoided
billions in taxes in the United States and around the world through a web
of subsidiaries so complex it spanned continents and surprised experts, a
Congressional investigation has found. Some of these subsidiaries had no
employees and were largely run by top officials from the company’s
headquarters in Cupertino, Calif., according to Congressional
investigators. But by officially locating them in places like Ireland,
Apple was able to, in effect, make them stateless – exempt from taxes,
record-keeping laws and the need for the subsidiaries to even file tax
returns anywhere in the world. In 2011, for example, one subsidiary paid
Ireland just one-twentieth of 1 percent in taxes on $22 billion on pretax
earnings from various operations; another did not file a corporate tax
return anywhere and has paid almost nothing on $30 billion in profits since
2009.  READ MORE »
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Art Deco (Wayne A. Fox)
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