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Apple Ordered to pay EU $14.5 billion in back taxes
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Quote:As far as the second part in bold, eventually it will affect U.S. tax payers since it will end up being less tax revenue coming in. Every dollar that Apple pays in taxes to a foreign country can be deducted from their U.S. tax bill. Is that how it works? I thought the deduction comes off of their profits, not their tax bill. That's similar to the difference between a mortgage interest deduction vs. a child tax credit. In the former case it lowers your taxes, but not by 100%, just the additional taxes you'd pay on the income that went to mortgage interest. "Why should I give information to you when all you want to do is find something wrong with it?" |
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