Re:The Story of Apple's $14B Tax Bill
by briandear on Tuesday December 20, 2016 @03:18PM
(#13223539)
Evading taxes is illegal. Tax avoidance is legal and it's a fiduciary duty of corporate officers. They would actually be violation their fiduciary duties if they paid more tax than was required.
[ Parent
| on HN ]
No it isn't. There is no fiduciary duty for corporate directors anywhere in the world, and certainly not anywhere in the USA or Europe, to avoid taxes.
Nor is there, I wager, any duty to maximise revenue or profit or anything similar in any jurisdiction on the planet.
Re:The Story of Apple's $14B Tax Bill
by caminante on Tuesday December 20, 2016 @04:31PM
(#13224235)
Here's a relevant assessment by a UChicago tax professor on this very topic (i.e. the "duty" of APPL execs to avoid taxes) [0].
tl;dr: "Tax avoidance" isn't a "fiduciary duty" per Delaware corporation law. That said, APPL execs may be subject to such standards through its corporate bylaws or through a variation in state law (CA v. DE).
[0] http://uchicagolaw.typepad.com/faculty/2015/12/a-duty-to-min...