big brother 84

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big brother 84
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  • Apple CEO Tim Cook calls EU tax ruling 'total political crap,' cites potential anti-US sentiment

    toddzrx said:
    So you're saying you don't believe in a level playing field for large and small companies?

    Small companies cannot afford the international accountants that exploit these loopholes.
    Then it's up to the country to put laws in place that don't have loopholes.  Stop moralizing.
    Someone has to. You are clearly devoid of morals
    franklinjackconsingularity
  • Apple CEO Tim Cook calls EU tax ruling 'total political crap,' cites potential anti-US sentiment


    Apple does not rely on Irish accounting procedures to avoid paying profits taxes on foreign sales, but to delay paying them until later. The tax code doesn't levy the tax until the foreign earnings actually cross the border. Apple, like other companies, do that because of two widely held views: the tax rate (%) levied by the USA on foreign earnings is currently too high, and tax reform (lower tax rates) are likely in the relatively near future.

    Now, Apple computes its what-if tax bill every year, based on the assumption that its foreign earnings were actually remitted back to the USA. Then Apple sets those dollars aside (cash, Treasury bonds, etc.) while waiting for the day when Congress reforms the tax code. That obligation is shown as a liability on Apple's balance sheet, and the Treasury bonds are part of its "cash and equivalents" reported in the press. One day, Apple will remit its foreign earnings from past years, and also pay its tax bill to the IRS -- at the new, post-reform tax rate.

    The EU evidently wants to lay hands on that money before the US tax code is reformed. Its actions are based on the erroneous argument that Apple has somehow colluded with Ireland to escape taxation -- as opposed to legally delaying the date of taxation until a more propitious time.

    Apple has not evaded its taxes. No individual EU nation is claiming that it did, and the IRS recognizes that Apple is in compliance with US law. Tim Cook is right.
    So is it alright if I get my iPhone 7 and hold off paying for it until such time as Apple brings it down to a price that I think is fair?
    singularity
  • Apple CEO Tim Cook calls EU tax ruling 'total political crap,' cites potential anti-US sentiment

    latifbp said:
    Apple is based in the U.S. They should not have to incorporate everywhere they do business. Thus they should really only be paying taxes in the U.S. 
    Yes, in theory everyone could just buy their Apple stuff from Apple.com and have it shipped from the US but that's not really practical. How could they operate 100's of Apple Stores in Europe without having proper locally based subsidiaries set up?

    singularity
  • Apple CEO Tim Cook calls EU tax ruling 'total political crap,' cites potential anti-US sentiment

    You don't get Apple's tax deal because your business does not bring Ireland what Apple brings them.
    Your business may belong to you but Tim Cook is just an Apple employee.  Apple belongs to its shareholders.

    As a US citizen seeing how the EU is trying to stiff me with a tax bill for Ireland's tax laws, I say don't give them a penny.  
    Since Ireland greatly benefitted from their own law, the Irish citizens should pay the tax bill or save themselves by exiting the crumbling EU.


    Ireland are part of the EU and have to abide by their laws. The laws state they are not allowed to give favourable terms to any business.

    Apple's lawyers and accountants are not stupid. Apple and Ireland both have an obligation to understand and comply with EU law.
    singularity
  • Apple CEO Tim Cook calls EU tax ruling 'total political crap,' cites potential anti-US sentiment

    flootist said:
    I just can't back Cook or Apple on this one, they are in the wrong. Also, if by 'anti-American', Cook means, 'anti-American *corporation*', then I don't think that's necessarily a bad thing. We already have enough co-mingling of corporate and political interests here in the States (and the definition of 'corporate' very much includes Silicon Valley), I've been happy to see the resistance in other countries to efforts on the part of Google etc. at infiltration. I very much agree with JoeBanks, this smacks more of being petulant than being some kind of ethical crusade.
    With you 100%. Apple and Apple fans should stop taking this personally. There needs to be a worldwide clampdown on aggressive tax avoidance for ALL corporations. It's right and fair.
    jpolstersingularitygatorguyrune66