latifbp

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  • Apple FAQ responds to investor queries about $14.5B EU tax edict

    To add some facts to the general slamming of the so called extortion racket. Don't get me wrong - I love Apple products but they have been skirting their responsibilities for a long time like many other multi nationals. I don't like taxes either (I live in France....) but at a certain point we have to say its enough when corporations pay next to nothing for Billions in profits. Have a look at what happend in Ireland: https://en.wikipedia.org/wiki/Double_Irish_arrangement
    Wear all the Capri pants you want. It doesn't change the actual facts versus the 'facts' as you want them. Apple was almost bankrupt in the 1990's and this tax rate was already long in place. No advantage. Innovation and good decisions helped Apple succeed. Not the fucking EU.
    radarthekathlee1169
  • Apple FAQ responds to investor queries about $14.5B EU tax edict


    jume said:
    I live in a country that is a member of EU. We love Apple but I think Apple/Ireland should pay what they owe. EU laws for member countries are quite clear and I don't see why Ireland and Apple should be pardoned for that. Apple paid only 0.5 - 1% of taxes while other companies in EU need to pay WWAAAAAAY lot more... Laws in the EU are clear and valid for all EU member countries. In this case EU member countries are not allowed and cannot give any unfair tax conditions to selected companies.

    I think Apple/Ireland made lots of profit based on braking that law. Apple is reach as f**ck and I am getting sick when big corporations want more and more while the world goes to hell, rich become richer and middle class is disappearing. We are lucky for strong middle class and all the working-benefits in EU and most of that we have to thank to EU and I would like to keep that... So yes Apple you need to pay what you owe and please keep doing great products.
    LOL. This has to be the funniest post of the day! "..reach as f**ck.."!? Yikes.
    LMAO! This jume guy is crazy. In the '90's when Apple almost went bankrupt they had the same tax rate in Ireland. It obviously did not help them and was not THE reason Apple made a lot of money. Good decision making and outstanding innovation are the reason.
    hlee1169
  • EU tax investigation concludes, Apple hammered with $14.5 billion bill

    sog35 said:
    cnocbui said:
    Well I said it would be billions rather than SOG's ludicrous millions.

    I hope the final outcome is that Apple eventually have to cough up.  They have over $200 Billion in the bank because they are worlds biggest and most effective tax avoider.  I hope this is just the start of all the other multinational tax dodgers finally getting what's coming to them.

    Of course the situation Apple finds itself in is all the fault of the US government, not Ireland or the EU as it is US tax legislation that allows US companies to indefinitely defer tax repatriation while pretending to their host countries their tax is payable in the US.
    Looks like you made a good estimation of how ridiculously stupid and incompetent the EU is.
    Congrats you called it right.

    But Apple won't pay even close to the $14 billion. 

    And you are wrong about Apple being the worlds biggest and most effective tax avoider. Microsoft, Google, and a ton of other mega tech companies pay a lower effective tax rate than Apple. 
    It's GE that actually avoids taxes. They not only pay $0 in taxes but take a $15+ billion tax rebate every year. Apple pays taxes. Apple gives good benefits and the best paid parental leave policy out of every company.
    hlee1169badmonk
  • Tim Cook responds to $14.5B EU tax bill with open letter, says decision will be reversed


    Dracarys said:
    sog35 said:
    adm1 said:
    Calling the move "unprecedented," Cook portrayed the Commission's decision as potentially dangerous, with "serious, wide-reaching implications." 

    EC previously ruled against Starbucks's tax deal in Holland and Fiat's tax deal in Luxembourg. Not unprecedented.

    "In Apple's case, nearly all of our research and development takes place in California, so the vast majority of our profits are taxed in the United States," he wrote. "European companies doing business in the U.S. are taxed according to the same principle. But the Commission is now calling to retroactively change those rules."

    There is no law that states you should only be taxed where your R&D offices are located. There ARE laws however that say you pay tax where you operate and sell products. On top of that, funnelling profits from those sales to other countries while not technically illegal, is morally questionable. Similar to those with offshore accounts (cayman islands, panama etc.) albeit nowhere near as shady.
    Are you joking? Starbucks/Fiat got slapped on the wrist. They were ordered to pay $20 million each. The $14 billion for Apple is the definition of unprecedented.

    It does not matter if the law is morally questionable in your opinion. It was the Irish tax law at that time. Apple did nothing wrong. They followed Irish tax law, and any other company operating in Ireland could have done the same. 

    Again the dispute isn't if Apple broke Irish tax law. They have not.
    The dispute is if Apple was given a DIFFERENT tax law they anyone else in Ireland.  And as far as I can tell they didn't. They were just better at tax planning than anyone else.
    It's all relative. $20 million to Starbucks was for how many years retroactively? And in comparison to the sheer size of Apple compared to Starbucks obviously the fee will be much less. 

    Prove that Apple wasn't given a different tax law, because from what I can tell paying 0.005% tax is well below what anyone else pays. 

    The diagram shown in this tweet is pretty accurate at describing what happened: 
    It's on you to prove they were given a deal
    nolamacguyjony0
  • Tim Cook responds to $14.5B EU tax bill with open letter, says decision will be reversed

    gatorguy said:
    sog35 said:
    adm1 said:
    Calling the move "unprecedented," Cook portrayed the Commission's decision as potentially dangerous, with "serious, wide-reaching implications." 

    EC previously ruled against Starbucks's tax deal in Holland and Fiat's tax deal in Luxembourg. Not unprecedented.

    "In Apple's case, nearly all of our research and development takes place in California, so the vast majority of our profits are taxed in the United States," he wrote. "European companies doing business in the U.S. are taxed according to the same principle. But the Commission is now calling to retroactively change those rules."

    There is no law that states you should only be taxed where your R&D offices are located. There ARE laws however that say you pay tax where you operate and sell products. On top of that, funnelling profits from those sales to other countries while not technically illegal, is morally questionable. Similar to those with offshore accounts (cayman islands, panama etc.) albeit nowhere near as shady.
    It does not matter if the law is morally questionable in your opinion. It was the Irish tax law at that time. Apple did nothing wrong. They followed Irish tax law, and any other company operating in Ireland could have done the same. 
    You like to keep saying that but if ANY company could do the same why wouldn't they? There's smart accountants all over the world and what Apple was doing was probably known to many of them. 

    So no sir they could not. It requires a perfect storm of US corporate tax laws, a pre-existing special tax arrangement with the Irish and a creative use of corporate structure to pull it all off. Only the larger companies with US bases and worldwide operations could have taken advantage of this particular avoidance structure and even then only with special cooperation from friendly Irish tax folks. Your local Irish restaurant or retailer? Nope. The French bakery owner? Nope. The German car dealer (with three locations, whoo hoo). Sorry, no again. The computer retailer in Sweden? Sorry, no deal for you. Well then how about a big ol well-to-do grocery chain like Publix. Surely they can. They're kinda rich. Sorry. They all have to pay taxes if they have profits. No "stateless for tax purposes" is available to them, nor for any other regional company. Only the richest and biggest get this one. 

    Of course those little guys could always use secret Swiss bank accounts to evade taxes, right? Nope, not even that. 
    http://www.dw.com/en/switzerland-eu-to-tackle-tax-evasion/a-18327857

    Yeah but some of those guys could still stash in the Cayman's according to you. Well. . .
    https://www.treasury.gov/press-center/press-releases/Pages/jl2226.aspx
    No tax arrangement. You think Cook would make this public statement now that this will open up a new legal can of worms?
    nolamacguyhlee1169jony0