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Apple tax policies face scrutiny in US

Monday 30 April 2012 | 13:02 CET | News
Apple's corporate tax policies have come under scrutiny in an article by the New York Times. The report highlights how Apple uses subsidiaries in states such as Nevada, which has a zero corporate tax rate, to reduce its corporate tax bill. Apple also has subsidiaries in places with beneficial subsidiary tax regimes like Ireland, the Netherlands, Luxembourg and the British Virgin Islands. Based on current estimates, Apple is expected to set a record for profits by an American company this year, at USD 45.6 billion. In 2011, the company paid total taxes of USD 3.3 billion on profits of USD 34.2

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Categories: Mobile & Wireless
Companies: Apple
Countries: World
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