Arab Today, arab today apple \avoiding billions in global taxes
Last Updated : GMT 07:02:09
Arab Today, arab today
Arab Today, arab today

Apple \'avoiding billions in global taxes

Arab Today, arab today

Arab Today, arab today Apple \'avoiding billions in global taxes

New York - AFP

Gadget giant Apple is avoiding billions of dollars in taxes by setting up small offices around the world to collect and invest the company\'s profits, according to The New York Times. Saturday\'s report said an office in Reno, Nevada, where the corporate tax rate is zero, was one of many that the California-based technology giant uses to legally sidestep state income taxes on some of its gains. California\'s corporate tax rate is 8.84 percent. Record sales of iPhones and iPad tablet computers, particularly in China and other parts of Asia, saw Apple report last week that it made a $39.2 billion profit in the quarter ended March 31. The Times quoted Apple executives who said the Reno office and others in Ireland, the Netherlands, Luxembourg, the British Virgin Islands and other low-tax places were among the legal methods the company was using to reduce its global tax bill. The newspaper said Apple had \"devised corporate strategies that take advantage of gaps in the tax code,\" citing former executives who had helped craft those policies. In Reno, Apple uses a subsidiary named Braeburn Capital to manage and invest the gadget company\'s money, the report said, and when those investments succeed, the Nevada address shields the profits from being subjected to tax. Former executive Robert Hatta, who oversaw Apple\'s iTunes retail marketing and sales for European markets until 2007, said routing transactions through Luxembourg allowed them to be taxed at low rates. \"We set up in Luxembourg because of the favorable taxes,\" Hatta told the Times. \"Downloads are different from tractors or steel because there\'s nothing you can touch, so it doesn\'t matter if your computer is in France or England. If you\'re buying from Luxembourg, it\'s a relationship with Luxembourg.\" In a statement to the Times, Apple said it \"has conducted all of its business with the highest of ethical standards, complying with applicable laws and accounting rules.\" \"We are incredibly proud of all of Apple\'s contributions,\" it said, noting that the company \"pays an enormous amount of taxes, which help our local, state and federal governments.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today apple \avoiding billions in global taxes Arab Today, arab today apple \avoiding billions in global taxes

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today apple \avoiding billions in global taxes Arab Today, arab today apple \avoiding billions in global taxes

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today O'Leary: Could ground more planes

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Huthis stage defiant rally 3 years

GMT 05:29 2017 Friday ,22 September

Huthis stage defiant rally 3 years
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Youssra prepares for launching her  program

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:03 2017 Thursday ,21 September

Alarm over flesh-eating ulcer cases

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday