Apple’s CEO, Tim Cook, was hauled in front of a Congressional subcommittee in May and grilled about corporate tax avoidance. At issue is a complex corporate structure that allows Apple’s European subsidiaries to distribute profits to a holding company in Ireland where the corporate tax rate is 12.5 percent. As a result, Apple holds over $100 billion in Ireland that the CEO says “isn’t coming back” anytime soon. This equates to avoiding $35 billion in […]
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