Turns out, it’s still highly innovative, just in other areas:
But Irish tax law only considers companies residents of the small European country if they are managed and controlled there. The U.S. Internal Revenue Service, meantime, only counts corporations as American if they are incorporated here.
The result: Apple pays little or no taxes to either country on much of its international revenue, according to the report.
–“Apple Avoids Overseas Taxes, Panel Finds,” WSJ (paywall)
As the article explains, Apple incorporates many of its international operations in Ireland, but “manages and controls” them from Cupertino. One subsidiary didn’t file a tax return, anywhere, even though it took in nearly $30 BN between 2009 and 2012.