Tags: Apple | Taxes

NYT Report: Apple Legally Sidesteps Billions in Taxes

Sunday, 29 Apr 2012 01:21 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

NEW YORK — A new report says Apple Inc. uses subsidiaries in Ireland, the Netherlands and other low-tax nations as part of a strategy that enables the technology giant to cut its global tax bill by billions of dollars every year.

A New York Times article published Sunday outlines legal methods used by Cupertino, Calif.-based Apple to avoid paying millions of dollars in federal and state taxes.

It cites a study by a former Treasury Department economist that estimates Apple's federal tax bill would have been $2.4 billion higher last year without such tactics.

The newspaper says Apple paid $3.3 billion in cash taxes globally on $34.2 billion in profits last year. That's a tax rate of 9.8 percent.

Apple tells the Times that it complies with all laws and accounting rules.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Military Pilot Was Killed in Virginia F-15 Crash

Thursday, 28 Aug 2014 21:54 PM

The pilot of an F-15 jet that crashed this week in remote Virginia mountains was killed, military officials said Thursda . . .

Pennsylvania Becomes 27th State to Expand Medicaid

Thursday, 28 Aug 2014 21:34 PM

A half-million more low-income Pennsylvanians are in line to get federally funded health insurance after the U.S. Depart . . .

Joan Rivers in Medically Induced Coma After Cardiac Arrest: Report

Thursday, 28 Aug 2014 19:45 PM

Comic Joan Rivers was hospitalized in critical condition Thursday morning after she reportedly went into cardiac arrest  . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved