Experts Troubled by Treasury Secretary Taking on “Role of Tax Lobbyist” for Apple

GATJ

07/20/2016

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GATJ

07/20/2016

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WASHINGTON, DC – U.S. Treasury Secretary Jack Lew is traveling to Europe this week for, among other reasons, the purpose of talking with European Commission officials to argue against invalidating a special tax deal that allows Apple to direct tens of billions of dollars in worldwide revenues to Ireland and pay a tax rate in the range of 1%.

Gary Kalman, the executive director of the FACT Coalition, released the following statement:

“It is troubling to see Secretary Lew take on the role of tax lobbyist for Apple.

“Given Apple’s history of establishing subsidiaries with no tax residency anywhere, arranging secret tax deals in Europe, and shifting profits to tax havens, Apple is the last company that our government should be defending.

“Other countries are learning that rampant tax avoidance by multinational companies means a heavier tax burden on individuals and smaller businesses.  We should be leveling the playing field by making sure that large, highly profitable corporations like Apple take responsibility for their fair share in taxes both here and abroad.”

Source: Fact Coalition 

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