Yeah, Nato V's Ireland State Aid... Seems it![]()
Try to grow a sense of humor. Bigly!
Yeah, Nato V's Ireland State Aid... Seems it![]()
Uh huh.. Must have missed the /jkTry to grow a sense of humor. Bigly!
If these taxes were actually due in the US rather than Ireland did Apple pay any tax to the US government for this revenue/profit or did they dodge that?
Regardless, I'm confident Apple will lose this case eventually and end up with a massive tax bill. I'm sure the people of Ireland will find a good use for the money.
They will not pay any tax on this cash bundle until it's repatriated.
Apple will not do this until Trump slashes the corporate tax.
I think - someone will have to correct me on this - that Apple can effectively mark this down as taxed income as it will be taxed once it's back in the U.S.So they're effectively not paying tax anywhere. What a sham.
This is good info. Many of these tax haven countries are used [ab-used] to evade US taxes.Yeah, it's pretty hard to argue that Apple doesn't pay its fair share of taxes in the United States. One might argue that Apple doesn't pay its fair share of (income) taxes (to foreign nations) on foreign earnings, but its domestic tax situation is quite different.
I walked through some of the numbers in a different post so I won't go through them again here. But if you were to just look at what you refer to - profit attributable to its sales in the U.S. - then the rate that Apple pays to the U.S. government (i.e. not including state income taxes) would be well above 40%. The statutory rate is only 35%, so obviously Apple is (as it should, based on normal accounting practices) recognizing as profit in the U.S. more than just that profit attributable to its U.S. sales.
Apple does leave much of the profit of its foreign subsidiaries unremitted (to the parent company) so that it doesn't, for now, have to pay U.S. taxes on those legitimate foreign earnings. And it does make great use of tax avoidance techniques when it comes to those foreign earnings in order to greatly reduce its foreign tax liability. But the same can not fairly be said when it comes to its domestic earnings and domestic taxes.
That’s fine brah. We know what you meant.Instead of trying to cloud the waters Tim, how about coming clean on what tax rate you actually pay?
No, didn't think so...
EDIT: For clarification, when I say "you" I am referring to Apple. Not Tims personal tax rate.
I think - someone will have to correct me on this - that Apple can effectively mark this down as taxed income as it will be taxed once it's back in the U.S.
So they're effectively not paying tax anywhere. What a sham.
No I have a higher IQ than most people I don't need outside information to make decisions.
No, they've effectively deferred payment of U.S. taxes. In accordance with the law.So they're effectively not paying tax anywhere. What a sham.
They do include deferred tax payments in their financial statements. I don't think it's for the full amount though, since some of the funds will be invested outside the U.S.I think - someone will have to correct me on this - that Apple can effectively mark this down as taxed income as it will be taxed once it's back in the U.S.
The EU encourages tax sheltering when it is done by their members to non-members. That is where they lose sympathy from me. This comes down to sovereign states enforcing international tax/trade agreements on each other. A google of tax havens will quickly reveal that many gross offenders are EU. I am not suggesting illegal tax evasion. Only ruthless abuse within the letter of international treaty.Well when NATO members pay their fair dues I guess I will become more sympathetic. Until that day Apple can rape them hard as far as I am concerned.
The EU encourages tax sheltering when it is done by their members to non-members. That is where they lose sympathy from me.
If they have ‘differed’ it. They HAVE NOT paid it.No, they've effectively differed payment of U.S. taxes. In accordance with the law.
They do include deferred tax payments in their financial statements. I don't think it's for the full amount though, since some of the funds will be invested outside the U.S.
The EU encourages tax sheltering when it is done by their members to non-members. That is where they lose sympathy from me. This comes down to sovereign states enforcing international tax/trade agreements on each other. A google of tax havens will quickly reveal that many gross offenders are EU. I am not suggesting illegal tax evasion. Only ruthless abuse within the letter of international treaty.
Correct! And thanks for catching the typo.If they have ‘differed’ it. They HAVE NOT paid it.
No I have a higher IQ than most people I don't need outside information to make decisions.
You know for me I don't care who does it, it sickens me.Correct! And thanks for catching the typo.
As you would be any more decent if you had your own company operating at this scale!
I understand what you are saying in general, but not how it pertains to the Apple situation. They aren't getting any "tax breaks" that aren't available to smaller companies. What's stopping you from setting up your own double Irish?You know for me I don't care who does it, it sickens me.
Big companies get tax breaks which makes the playing field uneven for smaller companies. I’d love to be able to defer all of my income tax by keeping my British earnings in Sparkasse.