3 ms·
It seems strange that your definition of "hiding" is "not present in the US". Is most of the population of the world then a "hidden" group of people? That sound
by Goronmon 11y ago
It seems strange that your definition of "hiding" is "not present in the US". Is most of the population of the world then a "hidden" group of people? That sounds a bit condescending.
- Retric 11y agoIt's hiding from the IRS not the US. Apple still makes what's going on clear to the SEC which is just a different branch of the US government, stock holders, etc.
- Goronmon 11y agoStill, using the term "hiding" makes little sense to me. It's money that not connected to the US or the IRS in anyway, and the information is readily available anyways. Are citizens of other countries "hiding" their income from the IRS then? That makes about as much sense to me as claiming that companies operating in other countries are hiding money from the IRS.
- Retric 11y ago“Apple Sales International buys Apple’s finished products from a manufacturer in China, re-sells them at a substantial markup to other Apple affiliates, and retains the resulting profits,” the Senate report says. http://www.foxbusiness.com/politics/2013/05/21/apples-irish-tax-strategy-explained.html http://www.foxbusiness.com/politics/2013/05/21/apples-irish-... They do this even for phones sold in the US. So, it really is US profits being shifted off shore. Further they negotiated a 2% rate with Ireland and report profit from other countries there as pure accounting magic.