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Still, 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
by Goronmon 11y ago
Still, 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.