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The Apple of Tax Discord By TII News Service Apr 09, 2012 , Washington
APPLE is the latest to face the heat of high tax rates in the USA. It is reported that the USA's most valuable company has shown stubbornness in bringing home more than USD 60 bn offshore funds in protest against the high taxes it would have to pay. Media reports indicate that although Apple has more than 2/3rd of retail counters in the USA, it earns only 25 cent in pre-tax profit against every dollar of sales whereas it earns 36 cents outside the USA. Thus Apple has accumulated its huge reserves offshore. Critics say that although Apple does bulk of its product and research development in the USA, which is also funded by the American taxpayers but when it comes to paying taxes, it resorts to adopting tax avoidance strategies.

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