|Obama to Exempt Apple from Buffett Tax|
|by Tom McGregor||Sun, Nov 4, 2012, 10:35 PM|
Apple Corp. is a major donor to President Barack Obama’s $1 billion re-election bid and if he returns to the White House his administration appears likely to reward the iPad giant with huge tax exemptions.
According to the BBC News, “Apple paid less than 2% corporation tax on its profits outside the US, its filing with regulators has shown.”
The corporation earned $713 million in the year to September 29 on foreign pre-tax profits of $36.8 billion, a rate of 1.9 percent.”
As reported by the BBC News, “it is the latest company to be identified as paying low rates of overseas tax, following Starbucks, Facebook and Google in recent weeks.”
The World Court in the Hague is alleging that these tax avoidance schemes are illegal.
written by Harry M. , November 05, 2012
You purposefully put a bad link to the original BBC story. Why? Because there is nothing illegal about what they are doing (the tax laws need to be changed).
Keep shorting Apple. It will be fun knowing that you and the other shills lost your shirt.
p.s. It isn't I-Pad, it is iPad. You can go back to listening to Rush Limbaugh now.
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