Apple finds itself in front of a Senate Subcommittee today, defending its practice of keeping cash offshore in order to minimize their tax liability.
The thing is, Apple is far from the only company that does this. While they keep the most cash offshore by far, other companies have similar schemes to dodge taxes. For example, we explained Microsoft’s elaborate international tax avoidance structure earlier.
The use of international tax havens by corporations was detailed in a Senate report released last September.
Here’s a list of companies that keep upwards of $5 billion in cash equivalents offshore, avoiding paying U.S. corporate income taxes:
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