Behind The Lobbying Effort That Helps Save Apple $2.4 Billion In Taxes A YearQuicklink submitted by Amanda Lang Permalink
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|The New York Times dropped another bomb on Apple's 'iEconomy' this weekend with an expose that shows how the world's biggest corporation evades billions of dollars in taxes by creating subsidiaries in low-tax states and countries like Nevada, Ireland, the Netherlands, Luxembourg, and the British Virgin Islands. While some of Apple's monumental success is due to the undeniable popularity of its products, the Times reports that Apple 'has devised corporate strategies that take advantage of gaps in the tax code.' This has ultimately saved the company (and thus cost the public) as much as $2.4 billion a year, according to a recent study by a former Treasury Department economist. Apple fights for favorable tax policies in the United States with a formidable army of lobbyists. According to the Center for Responsive Politics, Apple spent $2.3 million on lobbying last year and its lobbying...|
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