Accounts Quote by Michael Hudson
“That's why Apple, Microsoft and the big information technology companies have kept so much money registered abroad (although in US dollar accounts with a nominal foreign address's owner). They pretend to make their global income in Ireland. They have an office, which could be simply a postal drop box in Ireland, and claim to make all their money there, not in America.”
About This Quote
Source Article: Financial Analysis, 2020
Tech giants shift profits to foreign jurisdictions, like Ireland, using minimal physical presence to reduce taxes.
In simple terms: Companies register profits abroad to lower taxes.
Key Takeaway
Scrutinize corporate tax strategies.
Themes
tax avoidance
corporate finance
globalization
Mood
critical
analytical
Type
economic
political commentary
When to use this quote
- investment decisions
- policy advocacy
- financial reporting
Key Concepts
tax law
profit shifting
regulation
Questions to Reflect On
- How do tax shelters affect economies?
- What reforms could prevent profit shifting?
A Different Perspective
Legal loopholes may be closed; strategies evolve.
