Apple Avoids Paying Billions of Taxes According to the US Senators
Apple, a known manufacturer of some of the innovative and most advanced technologies, was accused by the senators of the United States for avoiding paying for their taxes by using some Irish subsidiaries, which are not considered as tax residents of several countries across the globe.
During a hearing with Apple, the senators who have done some investigations have released a report about the international tax structure of Apple. But, this issue about Apple became a political spotlight in the US because of the senators involved. According to Sen. Levin, the chairman of the panel, Apple has avoided paying taxes. The company also created an offshore entity that hold billions of dollars. The report showed during the hearing also elaborate the loopholes that were made by Apple just to avoid paying taxes in the past 4 years. But, the committee stated that Apple has made something illegal to reduce their tax bills.
There are several things covered in the report, but most of the staffs in the committee are surprised when Apple use a non-tax subsidiary in the country of Ireland. These subsidiaries include Apple Sales International and Apple Operations International. Both subsidiaries don’t pay for taxes. That is the reason why senators of the United States accused Apple that it is avoiding in paying billions of taxes, which government may benefit from. Other than the mystery behind the Ireland-based subsidiaries of Apple, investigators concluded that it is one of Apple’s tax gimmicks to reduce their taxes. Although this is a legal move, Apple has denied that it is kind of gimmick just to avoid taxes
Categories: Federal Tax, Income Tax, Tax Evasion, Tax Law Tags:
Taxpayer Advocates Call the Attention of the Government to Drop Taxes on Gas
Taxpayer advocates are calling the attention of the government to drop the taxes on gas to stop the suffering of the drivers and other vehicle owners. These advocates stated that there are still numbers of drivers who pay for about $15 whenever they fill up. According to the persons involved in this news, gas taxes will continue to rise if people responsible for the increase of taxes will not check the factors that affect the sudden increase on taxes.
Taxpayer advocates are not the only one who suffers from the sudden increase on gas. The drivers of public vehicles are also whining because they said that the increase on gas taxes is upsetting. In fact, other residents of Alberta, where gas came from, stated that they must be paying low cost or cheaper gas taxes compared to other Americans out there.
Taxpayer advocates want the governments to be transparent when it comes to the taxes they get from the consumers. They think that is the best way for them to see the real calculations on how taxes on gas increase or decrease.
As of now, the increase on gas taxes is still the same. Although there are few reductions on the taxes, taxpayer advocates don’t think that the deduction is enough because after several weeks of dropping taxes on gas, the tax increase twice than before. The government has reasons why they can’t just drop gas taxes and taxpayers must understand the reason behind that no matter what.
Categories: Federal Tax, Income Tax, State Tax, Tax Law Tags: