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Apple ‘avoiding billions in global taxes,’ report claims

Posted By admin On April 30, 2012 @ 3:38 am In Money Watch | Comments Disabled

AFP [1]
April 30, 2012

Gadget giant Apple is avoiding billions of dollars in taxes by setting up small offices around the world to collect and invest the company’s profits, according to The New York Times.

Saturday’s report said an office in Reno, Nevada, where thecorporate tax rate is zero, was one of many that the California-based technology giant uses to legally sidestep state income taxes on some of its gains.

California’s corporate tax rate is 8.84 percent.

Record sales of iPhones and iPad tablet computers, particularly in China and other parts of Asia, saw Apple report last week that it made a $39.2 billion profit in the quarter ended March 31.

Full article here [1]

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URLs in this post:

[1] AFP: http://ca.news.yahoo.com/apple-avoiding-billions-global-taxes-report-claims-014519624.html

[2] Globalist corporation Apple pays virtually NO tax in any country: http://www.prisonplanet.com/globalist-corporation-apple-pays-virtually-no-tax-in-any-country.html

[3] Apple Deluged by Police Demands to Decrypt iPhones: http://www.prisonplanet.com/apple-deluged-by-police-demands-to-decrypt-iphones.html

[4] Middle Class–Not the Rich or the Poor–Pay Majority of Federal Taxes, Says CBO Data: http://www.prisonplanet.com/middle-class-not-the-rich-or-the-poor-pay-majority-of-federal-taxes-says-cbo-data.html

[5] Top Five Worst Obamacare Taxes Coming in 2013: http://www.prisonplanet.com/top-five-worst-obamacare-taxes-coming-in-2013-read-more-httpatr-orgfive-worst-obamacare-taxes-coming-a7217ixzz27x5osjxx.html

[6] “Fixing” the Economy New York Times Style: Raise Taxes and Raise Taxes Even More: http://www.prisonplanet.com/fixing-the-economy-new-york-times-style-raise-taxes-and-raise-taxes-even-more.html

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