here is essentially how the use tax avoidance to pay almost no taxes on a huge chunk of their profit..
so by "creating" a middleman it owns.. .. the company sucks off the profit before the product is imported to the lucrative US market..
a company with no employees and virtually no presence in the other country..
to top it off.. cause that wasn't enough..
maybe the offshore countries are liberal countries with no borders.. and internet "cloud based.. no that can't be cause if it was a liberal country the tax rate would be excruciating, instead of NOTHING.
I don't own a single apple product.. I just don't like them..
One of the Irish entities, Apple Sales International, before 2012 had no employees, and two of its three directors are Apple Inc. employees located at California headquarters. All 33 ASI board meetings between May 2006 and March 2012 took place in Cupertino, the report found.
ASI buys Apple's finished products from a Chinese manufacturer, resells them at a higher price to Apple affiliates, and retains the profits, the report said.
From 2009 to 2012, the ASI arrangement facilitated a shift of about $74 billion in global profits away from the U.S., the report said, and the entity paid little in taxes worldwide. In 2011, ASI’s pretax earnings were $22 billion, and it paid just $10 million in taxes – a tax rate of 0.05 percent.
so by "creating" a middleman it owns.. .. the company sucks off the profit before the product is imported to the lucrative US market..
a company with no employees and virtually no presence in the other country..
to top it off.. cause that wasn't enough..
The offshore entities of the Cupertino, Calif.-based company have paid little or no tax in recent years, the probe found.
Read Latest Breaking News from Newsmax.com
One Apple affiliate – Apple Operations International – generated net income of $30 billion between 2009 and 2012, and declined to declare a tax residence, filed no corporate tax return and payed no income taxes to any nation, the report said. AOI is Apple's principal offshore holding company.
"Apple wasn’t satisfied with shifting its profits to a low-tax offshore tax haven,"
"Apple sought the Holy Grail of tax avoidance. It has created offshore entities holding tens of billions of dollars, while claiming to be tax resident nowhere."
maybe the offshore countries are liberal countries with no borders.. and internet "cloud based.. no that can't be cause if it was a liberal country the tax rate would be excruciating, instead of NOTHING.
I don't own a single apple product.. I just don't like them..