Apple Avoided Billions in Taxes, Congressional Panel Says “Apple wasn’t satisfied with shifting its profits to a low-tax offshore tax haven,” said Senator Carl Levin, a Michigan Democrat. “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.” John McCain, the Arizona Republican who is the ranking member on the committee, added: “Apple claims to be the largest U.S. corporate taxpayer, but by sheer size and scale, it is also among America’s largest tax avoiders.” [NYT]
Footnotes: Old Men Bite Into Bad Apple; Senate Finance, House Oversight Committees Hold Next Hearings; Really, IRS!?! | 05.20.13
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