Offshore Profit Shifting and U.S. Tax Code Weaknesses: Analyses and the Apple Inc. Case Study - Couverture rigide

Couverture rigide

ISBN 10 : 1628084790 ISBN 13 : 9781628084795

Editeur : Nova Science Publishers Inc, 2013

Synopsis

On 21 May 2013, the Permanent Subcommittee on Investigations (PSI) of the U.S. Senate Homeland Security and Government Affairs Committee held a hearing that was a continuation of a series of reviews conducted by the Subcommittee on how individual and corporate taxpayers are shifting billions of dollars offshore to avoid U.S. taxes. This book examines those hearings and how Apple Inc., a U.S. multinational corporation, has used a variety of offshore structures, arrangements, and transactions to shift billions of dollars in profits away from the United States and into Ireland, where Apple has negotiated a special corporate tax rate of less than two percent. This book examines how Apple Inc. transferred the economic rights to its intellectual property through a cost sharing agreement with its own offshore affiliates, and was thereby able to shift tens of billions of dollars offshore to a low tax jurisdiction and avoid U.S. tax. Apple Inc then utilised U.S. tax loopholes, including the so-called "check-the-box" rules, to avoid U.S. taxes on $44 billion in taxable offshore income over the past four years, or about $10 billion in tax avoidance per year. The book also examines some of the weaknesses and loopholes in certain U.S. tax code provisions, including transfer pricing, Subpart F, and related regulations, that enable multinational corporations to avoid U.S. taxes.

Détails de l'édition

• Éditeur: Nova Science Publishers Inc
• Date d'édition: 2013
• Langue: anglais
• ISBN 10: 1628084790
• ISBN 13: 9781628084795
• Reliure: Relié
• Nombre de pages: 111
• Éditeur: Toupin Reny
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible