Comment Unbelievable reactions to a positive step... (Score 1) 57
I personally applaud what China accomplished and hope that it launches similar investigations against every damn multinational corporation operating within their borders who set up foreign owned subsidiaries with one thing in mind--avoid or reduce tax liabilities.
The article stated this was simply the first investigation of this type, implying that more are either underway or planned for the future.
I applaud China. I applaud the EU for its attempt to correct the sweetheart tax deal entered into by Apple and Ireland.
Much more is needed reign in companies like MS, Google and Apple. These companies, and many others, have repeatedly shown the world that they really don't pledge allegiance to any country. Their only allegiance is to money. To gather as much as possible, they have simply become the latest iteration of the greedy carpetbagger. They set up their foreign subsidiaries as tax havens.
It was pretty ballsy for Microsoft to claim that over half the profit it earned went to R&D in the US. But then again, it appears that there were few punitive actions taken by China. And without significant punitive actions taken against these money hoarders, there is little for them to lose and much to gain. So the future appears to still favor the greedy...