Apple Tax Dodging Techniques Emblematic of Problem Costing U.S. $100 Billion, Poor Nations $1 Trillion Annually
April 30th, 2012
GFI Spokespeople Available for Comment on Apple, Tax Avoidance, Transfer Mispricing, Tax Haven Abuse
April 30, 2012
Clark Gascoigne, +1 202 293 0740 x222
WASHIGNTON, DC – A front-page article in Sunday’s edition of The New York Times drew attention to shady accounting techniques utilized by Apple Inc, the technology giant, to avoid paying billions of dollars in taxes each year. However, Global Financial Integrity (GFI) notes that Apple’s tax dodging is only one example of a larger problem: most multinational enterprises abuse tax haven secrecy. Tax haven abuses are estimated to cost the Internal Revenue Service US$100 billion per year and developing economies roughly US$1 trillion annually.
Global Financial Integrity spokespeople are available to comment on:
- the techniques utilized by multinational companies to shift profits into low-tax and no-tax jurisdictions;
- how tax havens and the secrecy they provide cost the U.S. government $100 billion in lost tax revenue each year;
- how tax havens, their secrecy, tax evasion, and similar shady accounting tricks contributed to the European debt crisis;
- how tax haven secrecy drains US$1 trillion from poor countries each year;
- how tax dodging exacerbates income inequality, undermines the rule-of-law, and forces other people to foot the bill.
To request an interview with GFI Director Raymond Baker, GFI Managing Director Tom Cardamone, or GFI Legal Counsel & Director of Government Affairs Heather Lowe, or GFI Lead Economist Dev Kar, contact Clark Gascoigne at cgascoigne@gfintegrity.org or +1 202 293 0740 ext.222.
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See Also:
- “Tax Dodging Jeopardizes Society at Home and Abroad,” op-ed by GFI’s Heather Lowe and Clark Gascoigne in The Huffington Post, April 17, 2012.
Contact:
Clark Gascoigne
cgascoigne@gfintegrity.org
+1 202 293 0740 ext.222