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Senate Report Says Apple Avoids Billions in Taxes

HeadlineMay 21, 2013

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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