US Senate committee accuses Apple of large-scale tax avoidance
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Washington - A US Senate committee accused Apple Inc of running a complex web of offshore business interests to avoid paying billions of dollars in income taxes, saying the technology giant was "among America's largest tax avoiders." The committee is
In addition to moving assets to tax havens, Apple also was accused of using loopholes in the United States to avoid taxes on 44 billion dollars in taxable offshore income over the past four years.
Apple said in a statement before the testimony that it did not use "tax gimmicks" to avoid paying taxes.
The Senate Permanent Subcommittee on Investigations said Apple's tax avoidance strategies were similar to those used by Microsoft and Hewlett-Packard, whose "dubious strategies" were scrutinized in 2012.//DPA
