Nike, Microsoft And Other 18 Large Multinational Companies Tax Avoidance $92 Billion.

2013/6/5 22:14:00 33

recently, Apple Corp has been pushed to the cusp of tax avoidance because of tax avoidance. A new report finds that Apple Corp is not a special case. In the US, at least 18 multinational corporations including Nike, Microsoft and Apple Corp use similar strategies, such as offshore tax havens, to avoid paying billions of dollars in taxes in the United States. The report says that if calculated, these spannational corporations need to pay more than 920 dollars in taxes. 
 the report comes from a research group, Citizens for Tax Justice (CTJ). Matthew Gardner, executive director of the Institute of Taxation and economic policy and a partner of the tax justice coalition, said, "many people think that Apple Corp's tax avoidance is a special case. In fact, many large companies are likely to do so." 
Nike spokesman declined to comment on the release of the report, while Microsoft and Apple Corp did not reply immediately. Last month, Apple Corp participated in the Senate hearing. The news said that as of April this year, Apple had a cash reserve of 145 billion US dollars, of which about 102 billion US dollars existed overseas. Of this huge amount of overseas cash, $74 billion is deposited in Irish subsidiaries. The report points out that in the past 4 years, Apple Corp has hardly paid taxes on this cash. 
 the CTJ report with the list of all tax avoidance companies has been submitted to the securities and Exchange Commission of the United States. Once these companies' overseas profits are brought back to the United States, they will pay more than 30% of the tax. The report also revealed that 235 other companies admitted that they had held a total of nearly $1 trillion and 300 billion in non repatriated profits abroad (non-repatriated profits), while CTJ did not disclose the names of those companies.