The New York Times wrote a piece on the different methods Apple uses to sidestep “billions in corporate taxes” earlier this year. Similar to many other articles on the topic, it portrayed Apple in a not-so-favorable light. Despite all the workarounds, Apple says it still pays a significant amount in income taxes. According to a recent statement, it paid over $6 billion in U.S. taxes during its fiscal 2012, accounting for $1 out of every $40 collected from corporations.
Congressional investigators are in the process of finishing their probe into the accounting practices of Apple and other tech companies that involves allocating revenue and intellectual property offshore to avoid paying often-higher U.S. and federal income taxes. According to The Times report:
In its statement, Apple said it paid “an enormous amount of taxes” to local, state and federal governments. “In fiscal 2012 we paid $6 billion in federal corporate income taxes, which is 1 out of every 40 dollars in corporate income taxes collected by the U.S. government,” it said.
It should be pointed out that Apple isn’t the only company doing this either. Apple is only in the lime light due to the large success it has had, making it a much bigger target. Although there isn’t anything technically illegal about the whole procedure, one can’t help feel like the move is immoral for all those not directly involved with the company.
Source: The New York Times