If Apple didn’t hold $181B overseas, it would owe $59B in US taxes
Found on Ars Technica on Wednesday, 07 October 2015
Other major American tech firms—including Cisco, Google, Hewlett-Packard, and Oracle—are among the largest companies that are using legal but questionable tax tricks to keep money overseas and effectively pay little to no American federal corporate taxes.
"Losing $90 billion of potential tax revenues every year is a very big deal," Neil Buchanan, a professor at George Washington University, said by e-mail.
In July 2014, Ars also reported that Google Ireland Limited paid an effective tax rate of just 0.16 percent on €17 billion ($22.8 billion) revenue in 2013.
Yet people applaud these corporations whenever they throw a new gadget onto the market even though they pay the bill for their tax evasion.