Post by Forever Sunshine on May 21, 2013 23:00:26 GMT -5
Apple executives defended the company's tax strategy on Capitol Hill Tuesday, claiming that it pays one of the highest effective tax rates of any major corporation.
A Senate panel called the hearing to examine what committee leadership said was the iPhone maker's strategy of shifting income to an Irish subsidiary to avoid paying U.S. taxes. Apple officials said the money resided with its overseas operations, such as those in Ireland, not to avoid taxes but because of the growth of Apple's sales overseas.
money.cnn.com/2013/05/21/news/companies/apple-offshore-tax-hearing/index.html?hpt=hp_t3
A Senate panel called the hearing to examine what committee leadership said was the iPhone maker's strategy of shifting income to an Irish subsidiary to avoid paying U.S. taxes. Apple officials said the money resided with its overseas operations, such as those in Ireland, not to avoid taxes but because of the growth of Apple's sales overseas.
money.cnn.com/2013/05/21/news/companies/apple-offshore-tax-hearing/index.html?hpt=hp_t3
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