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TECHNOLOGY => Computing and Internet => Topic started by: ReadWrite on May 21, 2013, 02:30 AM

Title: Congress Whacks Apple With The Tax Avoider Stick
Post by: ReadWrite on May 21, 2013, 02:30 AM
(http://readwrite.com/files/styles/800_450sc/public/fields/Apple_BW.jpg) An 18-month congressional investigation turned up evidence that Apple is a major-league tax avoider (http://www.nytimes.com/2013/05/21/business/apple-avoided-billions-in-taxes-congressional-panel-says.html), the New York Times reports — one that allegedly sheltered billions of dollars from taxation by moving the money through a web of subsidiaries, some of which had no employees and claimed to be exempt from taxes. Apple CEO Tim Cook will testify before the Senate Permanent Subcommittee on Investigations tomorrow; Apple has released an advance copy of his testimony (http://www.apple.com/pr/pdf/Apple_Testimony_to_PSI.pdf).

ReadWrite