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Apple to Add 500 New Jobs at European Headquarters in Ireland
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How does the tax shelter side of it work anyway?
I thought any profit they make is liable for US tax when they repatriate it anyway. Presumably there is some sort of double taxation treaty between Ireland and the US that means if Ireland raised its tax then the US would receive less on repatriated profits.
Yeah, it baffles me how there is no official apple store in Dublin. Grafton street would provide them with the footfall they'd need easily. Any time I'm passing that authorised reseller Compu B (beside Molly Malone statue) it has people in.
A proper Apple Store in a nice unit on the main grafton street would rule. The rents are probably still a complete monopoly money farce on that street though - even with the imploded property market here.
Having to drive to Apple Store Belfast for isn't the worst but it's little things like getting my money changed is irksome.
A proper Apple Store in a nice unit on the main grafton street would rule. The rents are probably still a complete monopoly money farce on that street though - even with the imploded property market here.
Having to drive to Apple Store Belfast for isn't the worst but it's little things like getting my money changed is irksome.
P.S. So much for not getting heavy but hopefully people are a bit more geographically educated as a result.Have a nice day!
Way to drag the thread down with your unnecessary bigotry. Have a nice life, Irishman.
@mods, not sure why my post was deleted, but anyway?
Edit: Post is back up?
Way to drag down the tone of a technology discussion with your warped politics and views, off to PRSI with you.
Edit: Post is back up?
P.S. So much for not getting heavy but hopefully people are a bit more geographically educated as a result.
Way to drag down the tone of a technology discussion with your warped politics and views, off to PRSI with you.
Which they don't do unless they need to. Apparently Apple has $64 billion sat overseas, and taking it to the US would mean sharing 35%. (http://www.forbes.com/forbes/2012/0...es-tim-cook-apple-secret-plan-cash-stash.html)
Then why not go from London to London?
Apple have their European operations in Ireland purely because its 12.5% corporation tax is the lowest of any major European economy.
Apple aren't alone in this though. Amazon.co.uk is based in Luxemburg (with "only distribution" occurring in the UK), and thus despite Amazon.co.uk's sales in the UK were around £2.8billion they paid not a penny of corporation tax in 2010.
Then why not go from London to London?
Apple have their European operations in Ireland purely because its 12.5% corporation tax is the lowest of any major European economy.
Apple aren't alone in this though. Amazon.co.uk is based in Luxemburg (with "only distribution" occurring in the UK), and thus despite Amazon.co.uk's sales in the UK were around £2.8billion they paid not a penny of corporation tax in 2010.
Agree, preferential tax environment is probably main reason, but also keep in mind they've been there for 30 years (probably/maybe before the 12.5% corporate tax) and employ lots of people (at least they also contribute the local economy).
Amazon UK HQ in Luxembourg is there for tax reasons (it's a billing address for UK sales), they employ few employees.
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I often feel sorry for entities like Apple. So much moola, so much more coming in in the (at least near) future and yet, it is all freaking taken! It is no longer possible to establish outside of already existing jurisdictions - a free, completely independent new, private state, where one can do as he/she pleases. Damn it!
Simple answer is that they don't repatriate it.
Here is a link to how's Google's "Double Irish" set up works.
http://www.bloomberg.com/news/2010-...illion-u-s-revenue-lost-to-tax-loopholes.html
http://news.cnet.com/8301-30684_3-20020329-265.html
Basically they use Ireland and another tax haven country (Bermuda) to shuffle the costs ( which gets deductions) and the profits ( which have low taxes) to disappear/appear in the right country to minimize the impact (or maximize the tax credit). It is almost a 3-card-monty card game.
For Apple, basically there is no need to bring the money to back to the US. A huge fraction of the manufacturing and production costs are offshore. Apple will just use the offshore money to pay offshore bills.
Holding most of their currency in other than dollars protects them from the devaluation currently in progress to monetize the debt.
It's actually harder to keep $120B than it is to make it, and making it was really hard.
It's actually harder to keep $120B than it is to make it, and making it was really hard.
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There's some truth in what you say but it is also a bit incendiary. The name of the country according to the Irish Constitution is Ireland. The claim to Northern Ireland was dropped from it and it is accepted by all but extremists that NI's position will not change unless or until, perhaps never, the people there democratically decide.
I've always called my country Ireland and my ancestors were Southern Unionists. It doesn't mean I'm claiming NI.
You keep repeating this nonsense, but it's a complete lie. This is a chart of the US Dollar Index since 2000. Notice the large slide during the Bush presidency, and how it's essentially flat since 2008-09. This is despite the Fed almost tripling the monetary base.
Here is proof of dollar devaluation. Gold is mentioned in the Constitution for a reason.
I added a second chart with an interesting trend line added. It retouches the top of the trend line as TARP was liquidating and re-rises as the "fiscal stimulus" kicks in. If you are familiar with the budget process the $866B stimulus was stated as a one time thing. But the Democrats in the Senate not only did not submit and pass subsequent year budgets, but refusing to bring one to the floor, there was no budget to reconcile with the ones passed in the House each and every year.
As a result the "one time" fiscal stimulus of $866B was continued with a "continuing resolution" each year and when the **** hit the fan when the debt ceiling was hit, it was only raised when the R got their way to have draconian cuts on auto-pilot if no legislation passed to reverse it "in due course".
That poison pill was necessitated by the utter refusal of the Senate to even bring a bill for debate, or consideration, or vote, or, gag, reconciliation with the House.
These are political decisions. The Democrats control the United States Senate. The Majority Leader of the Senate is Harry Reid, who is the single individual person making these decisions. He has the back of the President of the Senate, a Democrat, Joseph Biden the Vice President of the United States.
The President, the political leader of the party is of course in full support of those other two personalities and their decisions. He explicitly said so.
These are facts. These facts harm the Union. The citizens. The sovereigns. The poor. The middle class. Everyone who stores or spends US Dollars.
That's a pretty steep chart.
Rocketman
http://www.currencywarsbook.com/201...g-committees-subcommittee-on-economic-policy/
I added a second chart with an interesting trend line added. It retouches the top of the trend line as TARP was liquidating and re-rises as the "fiscal stimulus" kicks in. If you are familiar with the budget process the $866B stimulus was stated as a one time thing. But the Democrats in the Senate not only did not submit and pass subsequent year budgets, but refusing to bring one to the floor, there was no budget to reconcile with the ones passed in the House each and every year.
As a result the "one time" fiscal stimulus of $866B was continued with a "continuing resolution" each year and when the **** hit the fan when the debt ceiling was hit, it was only raised when the R got their way to have draconian cuts on auto-pilot if no legislation passed to reverse it "in due course".
That poison pill was necessitated by the utter refusal of the Senate to even bring a bill for debate, or consideration, or vote, or, gag, reconciliation with the House.
These are political decisions. The Democrats control the United States Senate. The Majority Leader of the Senate is Harry Reid, who is the single individual person making these decisions. He has the back of the President of the Senate, a Democrat, Joseph Biden the Vice President of the United States.
The President, the political leader of the party is of course in full support of those other two personalities and their decisions. He explicitly said so.
These are facts. These facts harm the Union. The citizens. The sovereigns. The poor. The middle class. Everyone who stores or spends US Dollars.
That's a pretty steep chart.
Rocketman
http://www.currencywarsbook.com/201...g-committees-subcommittee-on-economic-policy/
Attachments
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Scott Tallon Walker Architects have been appointed by Apple to design the new facility in Cork.
Nothing on their sketchbook yet.
Nothing on their sketchbook yet.
I don't know if it's been stated, but it's almost certain to be sales & support staff (unless Apple has something sneaky in the pipeline). They moved most of the manufacturing to China/Taiwan and the more technical staff/positions to the US about 12 years ago.
Just thought I'd throw in a comment to say that the official (in English anyway) name of the Republic of Ireland is in fact 'Ireland' ('Éire' in Irish). I'm Irish and I didn't know this either until last year when a friend of mine pointed it out to me (her brother is an ambassador) and I looked it up and turns out it's true. I'd say most Irish people don't actually realise that heh. Everyone thinks it's 'Republic of Ireland'. If you disagree then don't take my word for it, look it up yourself.
The planning permission has been submitted, details here.
There are several elevations & mockups in the Related Documents section. (Note - you have to install the DjVu plugin, and run Safari in 32 bit mode to view those documents).
It's nothing like the new 'flying saucer' Cupertino HQ, but I guess it's nice enough. Any investment is welcome.
There are several elevations & mockups in the Related Documents section. (Note - you have to install the DjVu plugin, and run Safari in 32 bit mode to view those documents).
It's nothing like the new 'flying saucer' Cupertino HQ, but I guess it's nice enough. Any investment is welcome.