Apple created subsidiaries in low-tax places such as the Republic of Ireland, the Netherlands, Luxembourg and the British Virgin Islands to cut the taxes it pays around the world. According to the New York Times, in the 1980s Apple was among the first tech companies to designate overseas salespeople in high-tax countries in a manner that allowed the company to sell on behalf of low-tax subsidiaries on other continents, sidestepping income taxes. In the late 1980s Apple was a pioneer of an accounting technique known as the Double Irish With a Dutch Sandwich, which reduces taxes by routing profits through Irish subsidiaries and the Netherlands and then to the Caribbean.[323] (en.wikipedia.org/wiki/Apple_computer#Tax_practices)
Posted on: Wed, 11 Jun 2014 04:09:34 +0000
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