Apple Reportedly Shifted Billions of Dollars to Small Island of Jersey Amid Tax Crackdown [Updated]

[gugy]

Can you blame them? I'd do the same.

Look, it's easy to criticize Apple and many of the rich people that put money of tax haven places. That said, I try everything I can legally to save paying on taxes. If what Apple and many people do is legal, then it's acceptable and nobody can complain. If that is not right then is to lawmakers to change the law and make it attractive to bring this money back to the US. Simple as that.

 

[gnipgnop]

Politicians are so stupid. Stop demonizing and penalizing companies for the sin of engaging in a productive, and even worse, profitable action, and then expecting to keep the fruits of these productive efforts.

Here's the thing to remember though: profit is unspent/uncirculated money. Economic growth only happens when there's an increased amount of money being spent/circulated, so there's a downside to record profits in the corporate world.

 

[MH01]

It smells and doesn’t fit a company who’s ceo teaches the world about fair trading, climate neutral producing and gender neutral opinions.

That said... when money is in the picture I see more strange things happening.

You mean he only lectures the western countries ..... the countries who are worst abusers he treats with kit gloves as he needs to use their cheap labour or sell them apple products .

That being said , he only cares about $$$$$$ the rest is just PR...

 

[Chew Toy McCoy]

Show me a huge multinational corporation that does not use tax haven tactics.

Oh I’m sure they burn just as much tax outrage calories posting on hundreds other forums associated with corporations.
[doublepost=1510000891][/doublepost]

Found the Apple apologist.
[doublepost=1510000162][/doublepost]

Look there’s two of them!

I’m not apologizing for Apple. They have nothing to apologize for.

 

[justperry]

It smells and doesn’t fit a company who’s ceo teaches the world about fair trading, climate neutral producing and gender neutral opinions.

That said... when money is in the picture I see more strange things happening.

I don't disagree with your post but what do you think happens if cook didn't do all this, he would get ousted instantly by the shareholders/demands he goes.

 

[deany]

Look, it's easy to criticize Apple and many of the celebrities that put money of tax haven places. That said, I try everything I can legally to save paying taxes. If what Apple and many people do is legal, then it's acceptable and nobody can complain. If that is not right then is to lawmakers to change the law and make it attractive to bring this money back to the US. Simple as that.

Here's the thing to remember though: profit is unspent/uncirculated money. Economic growth only happens when there's an increased amount of money being spent/circulated, so there's a downside to record profits in the corporate world.

That was the pitch with the Irish / Apple deal.
Unfortunately it's flawed, as we now know.

 

[radio893fm]

Wao. I am amazed, once again, at the power of Apple products... we now all seem to think that this is Ok.

 

[entropys]

This sort of debate has always gone on. Governments want to tax offshore earnings, wonder why companies don’t like it and take steps.
This video is the late Kerry Packer, at one stage Australia’s wealthiest man who was once called before a senate inquiry to explain himself because he had taken steps to not pay tax in Australia on money earned offshore, ironically in this case, in the USA. Two minutes of sheer gold.

Best lines:
I've already given you the answer on this subject, I have told you that I pay whatever tax I am required to pay under the law, not a penny more, not a penny less, and the suggestion that I am trying to evade tax, which is what you're putting forward, I find highly offensive and I don't intend to cooperate with you in the blackening of my character.

I am not evading tax in any way, shape or form. Now of course I am minimizing my tax and if anybody in this country doesn't minimize their tax they want their heads read because as a government I can tell you you're not spending it that well that we should be donating extra.

 

[ghost187]

I just had a mental image of Tim running on rooftops in Medellin

 

[tito2020]

Can you blame them? I'd do the same.

guess there hiding the iphone 20 in that island lol

 

[SteveW928]

You mean he only lectures the western countries ..... the countries who are worst abusers he treats with kit gloves as he needs to use their cheap labour or sell them apple products .

That being said , he only cares about $$$$$$ the rest is just PR...

I think he cares about a few of his SJW causes... the rest is just PR.

 

[Mr-Stabby]

Hilarious. That little island is my home, and Apple have for years refused to believe that Jersey exists. You can't put a Jersey postcode in iTunes, you can't order products direct from their UK store and have them delivered here. You can't setup any of their education services. There is no official Apple store here other than a reseller either. But they're happy to hide all their cash here. Figures

 

[9081094]

I don't disagree with your post but what do you think happens if cook didn't do all this, he would get ousted instantly by the shareholders/demands he goes.

What I meant to say is the whole world is getting hypocrite. I blame the companies who predict their goodness and in reality are driven by greed the most.
[doublepost=1510001272][/doublepost]

Hilarious. That little island is my home, and Apple have for years refused to believe that Jersey exists. You can't put a Jersey postcode in iTunes, you can't order products direct from their UK store and have them delivered here. You can't setup any of their education services. There is no official Apple store here other than a reseller either. But they're happy to hide all their cash here. Figures

Figures how hypocritical they're in real life. Money driven company.

 

[macTW]

“Oh man. Apple makes so much money and pays less tax than I do. What horrible cheapskates!!”

-said every blind nationalist.

 

[radiology]

Not illegal, but completely IMMORAL!

The fact that the US tax system is broken does not justify these kinds of actions. So much for preaching for social justice.

#hypocrisy

 

[2010mini]

It’s up to the people to make their governments get rid of these loopholes. As long as they are there, people will use them.

 

[WatchFromAfar]

Beautifully done, Apple. Beautifully done.

Remember: if the United States' corporate tax laws weren't so ass-backwards, companies wouldn't be forced to do this.

How are Apple "forced to do this" as opposed to choosing to do this because it saves them a tonne of cash?

 

[macTW]

They should be setting an example of how to do things Right. They don't deserve to be held is such reverence.

So they should intentionally cost themselves billions of dollars in tax, which they legally could keep, to “set an example?”

Lol.

 

[NightFox]

I'm just bemused that so many people posting on here about how happy they are that Apple is avoiding paying US tax are US citizens.

Who do you think loses out in the end?

 

[bgraham]

Politicians are so stupid. Stop demonizing and penalizing companies for the sin of engaging in a productive, and even worse, profitable action, and then expecting to keep the fruits of these productive efforts.

On one hand, people say they have a fiduciary responsibility to their shareholders to maximize value, and on the other, they say that Apple owes the people something, because Apple produced and sold a value, and the people didn't.

And they hold both views with perfect comfort. Ridiculous.

This view is harmful and complete trash.

There are many people that do productive things in society - indeed, Apple's engineers are obviously the source of its wealth and they pay their taxes, don't they?

What's more, this argument negates any of the productive things politicians can actually do that benefit these companies in the first place.

I imagine Apple doesn't sell many iPhones in failed states like Somalia, do they? The state maintains a legal order that allows for anyone to do productive things in the first place in safety and security. If some entity doesn't pay taxes, that's not only unfair to every entity that does pay taxes and gives them an unfair advantage, but it is harmful to society.

Apple benefits in countless other ways too - think of all the state-funded education their employees have benefitted from, all the healthcare they get, all the benefits they get, all the publicly funded infrastructure they rely on etc etc. If the state didn't tax anyone that did a productive things, there'd be far fewer people able to do them in the first place.

 

[2010mini]

Not illegal, but completely IMMORAL!

The fact that the US tax system is broken does not justify these kinds of actions. So much for preaching for social justice.

#hypocrisy

Explain to me what social justice has to do with working within the tax laws to find the best outcome for yourself/business?



I’m sure when you file your taxes you or whomever you use try to get the best possible outcome that is both LEGAL and BENEFICIAL for you...right?

 

[coolbreeze]

Can you blame them? I'd do the same.

Can you blame Trump for minimizing his tax burden? I'd do the same. Double standard incoming....

The Paradise Papers will reveal a lot...stay tuned! Anyone with significant wealth (or any company) is very crafty about paying the least amount of taxes possible. This is nothing new. Work the system until it's fixed, I say.

 

[fel10]

“I’m shocked” said no one ever

 

[bgraham]

Beautifully done, Apple. Beautifully done.

Remember: if the United States' corporate tax laws weren't so ass-backwards, companies wouldn't be forced to do this.

Apple isn't only avoiding US corporate tax on foreign earnings doing this, they're avoiding paying tax on seemingly their entire European operation to any of the national governments that ought to receive it.

Many EU countries, like the UK, have a moderate corporation tax of 19% with no taxing of foreign earnings and yet Apple still avoids their taxes. Apple is not 'forced' to do this, they're doing it on purpose.

 

[2010mini]

I'm just bemused that so many people posting on here about how happy they are that Apple is avoiding paying US tax are US citizens.

Who do you think loses out in the end?

Apple pays taxes for all the business they do here. They also pay taxes on business they do in other countries. The problem is they will be taxed again on that money if the bring it here.

Nobody wants to be double taxed. I don’t. And i’m sure you don’t either.