Apple Gets $208 Million in Tax Breaks to Build Iowa Data Center

Iowa approved a deal Thursday to give Apple $208 million in state and local tax breaks to build two data storage centers near Des Moines and to create at least 50 jobs — a pact that critics quickly panned. The deal approved by the Iowa Economic Development Authority includes a refund of $19.6 million in [...]

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British Virgin Islands Responsible for worldwide tax losses of $37.5 billion a year

An extraordinary report by consultants Capital Economics, for BVI Finance, claims that the British Virgin Islands are responsible for $1.5 trillion of assets invested around the world, and that these result in 2.2 million jobs and $15 billion in tax revenue. A better approximation would be that the BVI imposes global tax losses of $37.5 [...]

Authorities freeze $70m of assets from alleged $144m tax fraud

Authorities have frozen about $70m worth of assets as they begin to claw back the proceeds of an alleged $130m tax-evasion racket, a New South Wales court has heard. The scandal was blown open last month, culminating in the arrest of nine people, including the son and daughter of former Australian Taxation Office deputy commissioner [...]

Half of US Fortune 500 companies pay next to nothing in state taxes

As the Trump administration and Congress prepare to cut federal taxes on corporations by trillions of dollars, a new report by the Institute on Taxation and Economic Policy (ITEP) documents that, among the 258 Fortune 500 companies which were profitable in 2014, the average effective tax rate levied by all 50 states was only three [...]