Report: Apple legally sidesteps billions in taxes - 13 WTHR Indianapolis

Report: Apple legally sidesteps billions in taxes

Posted: Updated:
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 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.)

Powered by WorldNow
Links to the FCC website to view WTHR and/or WALV’s on-line public inspection files:
WTHR: https://stations.fcc.gov/station-profile/WTHR   ||   WALV: https://stations.fcc.gov/station-profile/WALV
Individuals with disabilities may contact Jill Pursell at publicfile@wthr.com, or 317.655.5602, for assistance with access to the public inspection files.
Powered by WorldNowAll content © Copyright 2000 - 2013 WorldNow and WTHR. For more information on this site, please read our Privacy Policy and Terms of Service.