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Windows 7: Senate panel says Apple avoids billions in U.S. taxes

21 May 2013   #1
Microsoft MVP

Windows 7 Ultimate X64 SP1
 
 
Senate panel says Apple avoids billions in U.S. taxes

Quote:
Apple, the tech giant that has made a corporate bonanza by selling iPhones, iPads and iPods to consumers worldwide, has avoided tens of billions of dollars in U.S. taxes on its income and profits, according to a Senate report summary issued Monday and swiftly challenged by the firm.
The California-based firm has used a web of offshore entities — including three Ireland subsidiaries that it said don't have tax residency in any country — to cut some of its tax rates to 0.05%, the Senate Permanent Subcommittee on Investigations reported.
USA Today
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21 May 2013   #2

Windows 7 Pro. 64/SP-1
 
 

Britton 30 your web site USA Today give me a error 400.
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21 May 2013   #3

Win 7 Pro 64-bit 7601
 
 

The US that is pestering a company over taxes?
Not gonna happen.
The loopholes Apple uses are there for a reason (benefit to the rich and megacorps).
Still, it wouldn't surprise me if MS or any company that can do it does the same. If it's legal to do so, why not?
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21 May 2013   #4

Windows 7 Pro. 64/SP-1
 
 

That is exactly what the investigation is all about. Is Apple doing this tax thing in a legal fashion.
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21 May 2013   #5

Win 7 Pro 64-bit 7601
 
 

um, no. the last few sentences are

The Senate panel recommended strengthening the federal tax code to eliminate incentives for U.S. multinational firms to transfer intellectual property rights to offshore affiliates in low-tax areas.
In other recommendations, the panel called for reforming "check the box" tax rules and imposing current U.S. tax on income earned by any overseas affiliate managed and controlled in the U.S.

If they end the report asking the senate to change the laws, sounds that it's perfectly legal to me.
Besides, Apple isn't stupid. Doing something wrong at this scale would lend to a helluva retailation from the US government. It's generally easier to pay someone to make sure the laws have loopholes.
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21 May 2013   #6

Windows 7 Pro. 64/SP-1
 
 

Maybe the tax laws need changed. If Apple followed the laws it's a big woppy do about nothing. Just trying to get the eyes off of the bad things the I.R.S has been up to in the last 4 or 5 years concerning conservative organizations.
Any CEO of any company would try to legally use the tax laws to lower the companies taxes. If the tax laws are incorrect then Congress should change them.
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21 May 2013   #7
Microsoft MVP

Windows 7 Ultimate X64 SP1
 
 

John fixed the link, I don't know how it went bad.

What Apple is doing is apparently legal but in my opinion not moral. Big, rich people and companies can avoid taxes on bajillions in profit, while a guy like me pays more than they do.
My System SpecsSystem Spec
21 May 2013   #8

Windows 7 Pro. 64/SP-1
 
 

I agree Gary. Their must be a way of a balanced approach to tax laws and regulation. You want companies like Apple to pay taxes but not tax them out of the country.
Congress can do this if they want to. I do remember not to long ago the previous Chairman of the House Financial Service Committeedidn't pay his taxes and all he could say was; I didn't know I had to pay. A small fine and all was forgiven. These are some of the kinds of people writing are tax laws.
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21 May 2013   #9

Microsoft Community Contributor Award Recipient

Vista x64 / 7 X64
 
 

Quote:
What Apple is doing is apparently legal but in my opinion not moral
That is the point. There have been quite a few questions about similar in the UK wrt other corporations ( not Apple as far as I know )

Here is something from way back in 1999 for example:

BBC News | The Company File | Murdoch 'pays no UK tax'
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21 May 2013   #10

Windows 7 Pro. 64/SP-1
 
 

Through the year I have read about Murdoch beating the system and others like him.
The reason must be he and the others are hiring people that are smarter than the people writing the tax laws. Or maybe, just maybe a little under the table money. Do I have proof on either, NO. If I did I surly would of had a life taking accident.
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