Corporate Tax Evasion: Apple Controversy Leads to Ireland

Posted on May 28, 2022

Corporate Tax Evasion: Apple Controversy Leads to Ireland

Apple Inc. is unapologetic about its tax strategy in Ireland, which helps the company evade taxes in the U.S. legally. The company is accused of using loopholes in the tax code to minimize its tax liability. An investigations into the tax strategy of Apple led investigators to Ireland where the company has subsidiaries that pay little corporate taxes on its profits. It is said that Apple uses Ireland as a tax haven.

Apple is one of Ireland’s major multi-national employers. The company defended itself against the charges saying that the company has been paying enough corporate taxes in the U.S. It also said that the company provides jobs in the U.S. The company called for an overhauling of the U.S. tax code.

The U.S. Senate called Ireland ‘a tax haven’ after it found that Apple paid close to nothing in taxes for years. Ireland is worried that the Apple controversy has put their corporate tax rate and tax policies under focus.

Tax evasion has been a major concern for the IRS and the U.S. government. As the country cannot afford to lose billions each year in tax evasion, action is being taken against the wealthy and multi-national corporations that are not paying what they should. Apple has found itself in the net, which is highly damaging to the company’s reputation. Other companies such as Microsoft and HP are also being investigated for tax evasion.

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