By Zoe Chace
Originally published on Wed May 22, 2013 6:32 am
Apple was criticized in a Senate hearing Tuesday for using a complex accounting to minimize the corporate taxes it pays. One key piece of the company's tax strategy: It funnels lots of its profits through subsidiaries in Ireland.
Offering low corporate tax rates has been a fundamental part of Ireland's economic strategy for decades — a way to get foreign companies to set up operations in the country.
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