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The Irish loophole behind Apple's low tax bill |
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Yahoo! Tech/Internet News
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05/22/2013 at 08:23:26 |
 By Tom Bergin LONDON (Reuters) - Apple's ability to shelter billions of dollars of income from tax has depended on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs. A U.S. Senate investigation revealed Tuesday that Apple, maker of iPhones, iPads and Mac computers, channeled profits into Irish-incorporated subsidiaries that had "no declared tax residency anywhere in the world. ...
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