In 2014, Apple’s effective corporate tax rate was allegedly 0.005%. The Irish corporate tax rate of 12.5% is the lowest in Europe and far friendlier to business than the 35% rate in the US. Little wonder a host of corporate entities—Apple, Google, Facebook, eBay and Twitter among them—funnel significant portions of their revenue through subsidiaries registered in Ireland. The real issue is that there is something rotten in the state of corporate tax regulations in developed economies. And, according to the United Nations Conference on Trade and Development, developing countries lose up to $100 billion in tax revenue annually.

Source: Mint September 05, 2016 18:33 UTC