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The real loophole is in U.S. law, which allows Apple to make large profits selling things in the U.S. but not pay any tax on them through the magic of self-deal
by jellicle 13y ago
The real loophole is in U.S. law, which allows Apple to make large profits selling things in the U.S. but not pay any tax on them through the magic of self-dealing transactions.
It's as if you gave all your income to your cat - whose bank account you happen to control - and then were able to deduct those gifts fully from your tax return, leaving you with no income and no tax liability. The tax man wouldn't look kindly on individuals doing that, but does look kindly on large corporations doing that. Odd.
- sigzero 13y agoCan you point to an article that explains this better? Because if not, I call shenanigans.
- Spooky23 13y agohttp://online.wsj.com/news/articles/SB10001424127887324034804578348131432634740 http://online.wsj.com/news/articles/SB1000142412788732403480...
- pslam 13y agoAre you sure? This is repeated often and immediately refuted every time. Apple pays all its tax obligations in the US, which means paying taxes on sales in the US. The dealings in Ireland are foreign tax related to foreign sales, where the US is not owed anything.