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Apple's not the only tech giant dodging U.S. taxes: Report

A pedestrian walks by an Apple Store following an announcement that Apple has become the world's most valuable brand on May 9, 2011 in San Francisco, California.

Silicon Valley companies sure know how to use silicon for profit. They are also very accomplished at reducing their tax bills. An investigative reporter in Northern California did some digging and calculated how much some big technology companies have saved in U.S. taxes by stashing a chunk of their profits overseas.

Matt Drange with the Center for Investigative Reporting joined Marketplace Tech host David Brancaccio to discuss which companies -- Apple, Google, and Cisco to name a few -- may be taking advantage of these tax structures.

About the author

David Brancaccio is the host of Marketplace Morning Report. Follow David on Twitter @DavidBrancaccio
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and while "Dodge" sounds illegal, it isn't, as we know. The Tax Code is ~70,000 pages of special provisions created by some of the same Politicians that rage against these 'dodging' practices. Just do a google search for all new tax legislation in the works right now, and tell me it is ever really going to get simpler, and these ways to "dodge" reduced.

It has been said, and I think it is more true than we like to believe, that the Tax Code is not about raising revenues, it is about raising campaign contributions from those super paper persons who get the benefits of their largess via the Tax Code.

Meantime, let you be just a ordinary DNA person living abroad, and you are taxed on your earnings, even if you don't repatriate them, while Congress creates a FATCA fiasco to search you out and have the entire worlds financial institutions report an incredible array of data on you, that would require a court order if done in the States.

Then they heap onto your tax complexity, FATCA and FBAR duplicative form reporting requirements with draconian penalties, so if they don't get tax out of you, they can create a penalty revenue regime.

One rule for Paper People, and another rule for DNA people.

FATCA, the worst law most Americans know nothing about.

The recent National Tax Payer report to Congress listed Tax Complexity as the number one problem of for DNA tax payers, and it is especially bad for Americans Abroad, if Congress would ever read the reports.

Here is the full report. http://1.usa.gov/RIfGpz

Here is MSP 08 http://1.usa.gov/VRJVsc

MSP 15 http://1.usa.gov/TLFb9l

These 8 and 15 deal with the unique problems for Americans living overseas, and dealing with the complexity of Citizenship taxation requirements. None of this is a problem for Apple with their army of lobbyist, tax attorneys and accounts!

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