Seems pretty obvious the only real solution is to eliminate the loopholes; otherwise, companies are likely to continue doing what they are financially incented to do; on a related note, see Schmidt: Don't like our tiny tax bills? Google this... 'Change the law' (The Register)
"Investigators have not accused Apple of breaking any laws and the company is hardly the only American multinational to face scrutiny for using complex corporate structures and tax havens to sidestep taxes. In recent months, revelations from European authorities about the tax avoidance strategies used by Google, Starbucks and Amazon have all stirred public anger and spurred several European governments, as well as the Organization for Economic Cooperation and Development, a Paris-based research organization for the world’s richest countries, to discuss measures to close the loopholes.Apple’s Web of Tax Shelters Saved It Billions, Panel Finds - NYTimes.com
Still, the findings about Apple were remarkable both for the enormous amount of money involved and the audaciousness of the company’s assertion that its subsidiaries are beyond the reach of any taxing authority."
Post a Comment