StaffWire services
Even though members of the U.S. Congress continue to believe Apple isn’t paying as much tax as it should, the SEC recently stated this wasn’t the case.
In fact, Forbes is reporting that as far as the SEC is concerned, Apple isn’t dodging taxes — it’s simply delaying the moment at which taxes must be paid.
Read: Tax avoidance can damage your reputation: STEP chief
How? Apple uses an Irish company to purchase the iKit from the assemblers, reports Forbes. That company then sells Apple products to the various Apple subsidiaries around the world. Bringing the profits into the U.S. will result in a hefty tax bill, and at some point that money does have to come onshore so that it can go to shareholders. But when, is up to Apple.