Letters: Plugging the loopholes

Apropos the report "Govt won't appeal in Vodafone case" (January 29), it may be a coincidence that today's dailies also carried the news that Apple's overall profit in its fiscal first quarter had increased to $18 billion.

Apple and other multinational companies exploit the tax laws by splitting their operations and registering their subsidiaries in tax heavens, so that they don't end up paying corporate tax anywhere in the world. Two years back, the US government had formed a committee to look at this. But there are no outcomes so far and MNCs continue to reap windfall profits. Just like the US and other developed nations, our government should also be judicious and try to plug the loopholes.

N Ramamurthy Chennai

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