Apple’s shine fades in tax row

Tech giant Apple has fallen foul of a senate committee in America over its complex tax affairs.

A few days after British politicians lambasted Google for avoiding tax, it was Apple's turn in the spotlight. A US Senate committee report revealed that between 2009 and 2012 Apple avoided paying tax in America on over $70bn of profits, by establishing subsidiaries in Ireland that appeared to exist solely to shelter earnings from tax.

One subsidiary had not filed a tax return in any country for several years. Meanwhile, Vodafone rejected accusations that it didn't make a big enough contribution to the exchequer.

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