On Tue, May 21, 2013 at 4:52 PM, Wojtek S <wsoko52 at gmail.com> wrote:
> The report says Apple capitalises on a difference between US and Irish
> rules regarding tax residency.
>
> In Ireland, a company must be managed and controlled in the country to be a
> tax resident. Under US law, a company is a tax resident of the country in
> which it was established.
>
> The subcommittee said Apple's strategy of not declaring tax residency in
> any country could be unique among corporations.
>
> "Apple wasn't satisfied with shifting its profits to a low-tax offshore tax
> haven," Senator Carl Levin, the subcommittee's chairman, said in a
> statement.
>
> The subcommittee report also noted that Apple has been setting aside
> billions for tax bills it may never pay.
>
> As previously reported by the AP news agency, the overlooked asset that
> Apple has been building up could boost its profits by as much as $10.5bn.
> http://www.aljazeera.com/business/2013/05/201352165831522483.html
>
> [WS:] Yet another reason to hate Apple - not only sweat shop drivers but
> also the largest tax dodger.
>
>
> --
> Wojtek
>
> "An anarchist is a neoliberal without money."
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