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Monday, June 20, 2011

Advocacy Group targets Apple as a tax "cheater".

A new liberal advocacy group has targeted Apple as a cheater "tax" for his leadership in a coalition calls for Congress to allow American companies to return foreign currency in the country at a greatly reduced rate of taxation.

Apple is not already pay its share of U.S. taxes, said us Uncut, a decentralized liberal group formed earlier this year. The company is also a major voice in the WinAmerica campaign, an effort to return 1 billion in earnings by us companies to the United States to a tax rate of 5%, instead of the normal 35 per cent for the repatriated earnings.

U.S. Uncut took to target several American companies his contempt. "" Our rallying cry is, ' we all pay our taxes, and why not they?'"".said Ryan Clayton, co-founder of the US Uncut. "At the same time as we will be pulling firefighters, teachers and cops, it is really irresponsible for them not to pay their fair share of the public burden."

In its fiscal year 2010, at the end of September, Apple have reported an income of $ 18.5 billion and paid 2.7 billion in income taxes, or about 15 percent.

Apple is not alone. Many companies of U.S. report a large percentage of their income earned abroad and benefit from other tax relief, to reduce their tax rates of full 35 per cent to the United States, said Mike Lunardoni, Director of the tax with WTP advisors, a tax advisory firm in White Plains, in the State of New York.

U.S. Uncut emphasis recently on Apple, with demonstrations planned outside stores vendor Saturday, his leadership in the WinAmerica, said Clayton. He said "If [Apple] will be at the edge of the sword for tax evaders, then they will be the first on our list of targets". "Engaging in this deception, shameful campaign is really sad, because most of the time, Apple is a large company that operates in a socially responsible manner."

The coalition "tax cheat" takes money from the US Government, said Clayton. "The bourgeoisie to do which, through cuts or higher taxes for middle class", he said.

As Friday afternoon, we Uncut members had Saturday protests planned in approximately 20 places of Apple, including Chicago, San Francisco, Seattle, Boston and Washington, D.C.

Three representatives Apple return e-mails and one does not have a telephone message seeking comment on the protests non-US cut. Also, the WinAmerica did not return an e-mail.

Although we Uncut accused Apple of dodging billion in tax, company tax payments are in line with several other tech companies. In 2010, Apple has recorded an effective tax rate of 24 per cent of its income, a greater percentage that recorded by several other tech companies, including Google, Hewlett-Packard, Yahoo and eBay large. The effective tax rate includes current and future worldwide taxes that a Corporation expects to pay, said Lunardoni.

WinAmerica members argue that repatriation of currency at a rate of taxation little stimulate the slow U.S. economy. The WinAmerica coalition members include Microsoft, Cisco Systems, Google, Oracle and Adobe Systems.

"We strongly support the need for a reform of corporate tax, but we should move now to allow businesses the power to put the money and it invest in our economy still fragile," WinAmerica said on its Web site. "We have the opportunity now to strengthen our economy, to reduce our deficit, to back people to work and invest up to 1 trillion dollars in America."

A tax return to the Congress Bill, called the freedom of action invest, has bipartisan support, said WinAmerica. The Bill, awaiting action in the House of representatives ways and means Committee, "stimulate investment in the US economy at little or no cost to U.S. taxpayers and has already gathered bipartisan support in the House and the people with different political and ideological beliefs" WinAmerica said.

Grant Gross covers the technology policy and telecom in the Government of the United States for the IDG News Service. Follow Grant on Twitter at GrantGross. Grant e-mail address is grant_gross@idg.com.

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