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Apple accused of tax dodging

Gadget giant Apple is avoiding billions of dollars in taxes by setting up small offices around the world to collect and invest the company’s profits, according to The New York Times.

Saturday’s report said an office in Reno, Nevada, where the corporate tax rate is zero, was one of many that the California-based technology giant uses to legally sidestep state income taxes on some of its gains.

California’s corporate tax rate is 8.84 percent.
 

(Source: Bangkok Post )