What do Apple, Microsoft, Starbucks, Fiat and many other corporations have in common? They all know how to dodge paying their taxes or at most pay very little taxes. One way they do this is to have their headquarters in very low tax nations, such as Ireland. This is about to change. The European Union’s (EU) 28 states agreed in October to share details of tax deals they reached with big companies to make sure they are fair to other countries. The EU has already ordered Starbucks and Fiat to pay millions in back taxes. Italy is making Apple pay $350 million in back taxes. The other way to avoid paying taxes is by using Bermuda as a tax haven. Microsoft stores billions in an entity named R.I. Holdings. It is a law firm in Hamilton, Bermuda, a UK territory that charges no corporate taxes. Microsoft has places like this to hide its money so it does not have to pay taxes around the world. This is just some of the ways large corporations and their stock holders and chief executive officers (...
This blog is a quick read about concerns, whether local or international, facing union and non-union workers.