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May 21, 2013

Senate Report Says Apple Avoids Billions in Taxes 
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The tech giant Apple is being accused of a massive tax-dodging scheme
that saved it tens of billions of dollars. A bipartisan Senate report
says Apple avoided paying U.S. taxes on $44 billion in income between
2009 and 2012. The report describes a massive and unprecedented web of
affiliates spanning several continents. The subsidiaries were used to
hide the company's profits even in countries where Apple had no
employees.

 

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