A series of subsidiaries spanning numerous countries have helped Apple avoid billions in United States taxes, congressional investigators reported Monday. Sen. Carl Levin, D-Mich., head of the Senate Permanent Subcommittee on Investigations, said that Apple “sought the holy grail of tax avoidance.” The company’s offshore entities helped it avoid “tens of billions” worth of taxes, he added. Apple engages in schemes and gimmicks, lawmakers said, but they stopped short of accusing Apple of actually breaking any laws.
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Congressional Investigation Scopes Apple's Web of Tax Havens
Posted by: David Vranicar May 21, 2013 09:27 AMA series of subsidiaries spanning numerous countries have helped Apple avoid billions in United States taxes, congressional investigators reported Monday. Sen. Carl Levin, D-Mich., head of the Senate Permanent Subcommittee on Investigations, said that Apple “sought the holy grail of tax avoidance.” The company’s offshore entities helped it avoid “tens of billions” worth of taxes, he added. Apple engages in schemes and gimmicks, lawmakers said, but they stopped short of accusing Apple of actually breaking any laws.