Apple's Irish Tax Bill

[AlexRRR]

13 billion euros worth that Tim Cook described as total political crap.....Irish tax rate for Apple is/was 0.005% in 2014, EU claim it isn't fair and The US govermernt claim the EU are ripping off what is there tax $.

 

The comedy that is is the Irish dont want the money as they purposely offer low tax rates to attract foreign investments the EU see it other wise and the US gov isn't happy as they see Apple earnings will be taxed there....

 

Well if that is correct as Tim says there not doing anything wrong of course something stinks big time with Irish tax laws, i dont think Apple do much more than retail in Ireland so why the very low tax rate?

 

You can read all about it here  http://www.theage.com.au/business/world-business/tim-cook-slams-eu-ruling-on-apples-irish-tax-bill-as-total-political-crap-20160901-gr6yjk.html

 

This raises a question and its to do with world wide business's not paying there fair share of tax into each nation they do business in, you would think with the amount money involved the political will would be stronger certainly here in Australia just over a year ago there was much talk about it to die off and now be forgotten.

 

Corruption no matter how big or small and in saying that legal curruption exists even in affluent nations, this Irish tax rate is moraliy indecent and a slap in the face of ordinary workers.

[derator01]

Since this is not related to Thailand, we'll move it over to The Farang Pub.

 

Topic Moved.

[sirineou]

Unemployed people don't pay tax, they consume tax. Ireland don't want apples tax, Ireland wants  wants the tax of those who work for Apple.

Other countries with high unemployment   need to learn from that.

[White Christmas13]

Apple does not pay any tax in any country 

[AlexRRR]

On 3 September 2016 at 11:27 PM, sirineou said:

Unemployed people don't pay tax, they consume tax. Ireland don't want apples tax, Ireland wants  wants the tax of those who work for Apple.

Other countries with high unemployment   need to learn from that.

 

 

Apple would be only a retailer/service industry in Ireland like everywhere else.

 

Tax loopholes: Corporations pay less tax than Aussie workers

Should businesses shoulder a fair share of taxes compared with hard-working Australian people? We might see this question discussed more in coming years. Using an international shell-game to move earnings away from the tax man, corporations legally avoid taxes in countries like Australia, even though they earn billions here. Similar tax breaks are simply not available to ‘normal’ Aussie businesses or to working people.

The Australian government is facing renewed calls to toughen rules and regulations as journalists worldwide uncover more details on how multinational companies shift their profits around to globe to avoid paying Australian taxes.

Pushing this issue back into the limelight was the revelation that Australia’s largest coalminer, Glencore (formerly Xstrata), paid almost no tax over the past three years even though they generated income of $15 billion.

Further reports have since emerged that most of the biggest companies operating in Australia pay less than 10% tax.

Questions are now being asked about how they get away with it.

So how do the tax loopholes work?

Big businesses exploit tax loopholes by shifting profits to low tax countries, while moving their debts to high tax countries…

A group of more than 80 journalists from 26 different countries recently revealed the extent of how corporations use (or abuse) the tax laws and receive official “comfort letters” excusing them from tax in Luxembourg – which then becomes a trick to avoid taxes in other countries.

To put it simply, multinational companies move their income offshore to their other offices and their subsidiary companies in countries with low tax rates (Luxemburg, Bermuda, British Virgin Islands, Singapore), while at the same time moving their debts to high tax jurisdictions like Australia, where they get better deductions for debts or expenses.

Money moves back-and-forth around the globe in order to take advantage of every tax break, discount and loophole possible.

Some of our favourite brands and most recognised companies are legally structured using incredibly complex webs and connections, including the use of ‘fake’ companies or offices in a country like Luxembourg that will then receive profits earned in another country like Australia. Why do companies need offices in Luxembourg? Simply, to help them pay less in countries like Australia.

This means they can claim a deduction against the debt and lower their taxable income, the same way a deduction works on individual tax. When their income is shifted offshore so it looks like they are not earning as much as their actual numbers in a country like Australia, this gives them an extra advantage to pay less tax.

 

Its legal but morally wrong of course...

[billd766]

I wonder if it was Samsung instead of Apple in Ireland. Do you think that the USA would be saying anything?

 

The other thing about the USA (I'm a Brit) is that they want to tax US citizens at the US tax rates on every dollar. pound, Euro, baht or shekel world wide but don't clamp down on corporates like Apple.

[craigt3365]

18 minutes ago, billd766 said:

I wonder if it was Samsung instead of Apple in Ireland. Do you think that the USA would be saying anything?

 

The other thing about the USA (I'm a Brit) is that they want to tax US citizens at the US tax rates on every dollar. pound, Euro, baht or shekel world wide but don't clamp down on corporates like Apple.

I doubt the US would say anything as Samsung is a S. Korean enterprise.  Apple is a US enterprise.  Makes sense.

 

I do believe the UK taxes global income also.  Unless of course it's in one of the British tax havens.

[JJGreen]

Apple and their ilk are a global disgrace.
They employ thousands of spin merchants to get the message to the public they are the good dudes...
Well, they aint!
The working class and middle class prop up tax revenues while hundreds of mega corporations...maybe thousands... pay zippity do daa despite having sold a service or product within a country.
Apple will appeal the ruling...and might yet win.
Every country should be looking at tax laws that aggressively pursue sham tax avoidance like these companies do.
Heavy jail sentences...with some convictions for all board members who rubber stamp such tax avoidance would see it stopped in quick time