There are more and more multinational companies trying to take benefits of their international structures to avoid paying heavy taxes at home. Recent case of Apple’s tax avoidance practice by using subsidiaries in Ireland to move their intellectual properties there hence managed to avoid paying considerable American taxes proved; there are deliberate efforts by big corporations to minimize their taxes payment.
When Apple CEO Tim Cook was summoned to testify before the senate about his company’s practice, he staunchly said that Apple is continuously paying its fair share to the U.S. government. He made this statement despite media reports about possibly billions of dollars U.S. government’s loss in Apple’s tax avoiding practice.
Tax experts are agree that practices by big multinational companies such as Apple or Google in taking advantage of loopholes in international tax system can be justifiable but cannot be deemed as legal. American tax system is complex…
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