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Is Apple dodging paying tax? (or are they just smart)

#1 User is offline   Ken Gracey 

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Posted 29 April 2012 - 09:24 AM

Apple subsidiaries in low-tax regions have helped the company save an enormous amount in taxes across the globe. A New York Times investigation shows that instead of collecting and investing profits in California, where the company is based,

Apple is sending their funds to Reno, Nevada, where the corporate tax rate is zero compared to 8.84 percent. The company is doing this around the world, with subsidiaries in places like Ireland and the British Virgin Islands. Last year, the tech giant coughed up
$3.3 billion on its $34.2 billion in profits worldwide. Without the inventive, and legal, accounting tactics they've been using, Apple would have to pay an estimated $2.4 billion more in taxes to the United States government alone.

What does everybody think? are they exploiting a loop hole, to save 2.4 billion in tax, or are they just a lot smarter than the average corporate giant ?

From a personal point of view i am not a fan as my own company would love to pay 8.84%, its a hell of a lot better than 45% we get slugged here.
Come on 20K




Ken
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#2 User is offline   pegi 

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Posted 29 April 2012 - 11:05 AM

That is a real political question there and a thorny one. Paying taxes, I am not sure if I want to go down that line and starts a furious debate. on this forum. I might be decapitated.


View PostKen Gracey, on 29 April 2012 - 09:24 AM, said:

Apple subsidiaries in low-tax regions have helped the company save an enormous amount in taxes across the globe. A New York Times investigation shows that instead of collecting and investing profits in California, where the company is based,

Apple is sending their funds to Reno, Nevada, where the corporate tax rate is zero compared to 8.84 percent. The company is doing this around the world, with subsidiaries in places like Ireland and the British Virgin Islands. Last year, the tech giant coughed up
$3.3 billion on its $34.2 billion in profits worldwide. Without the inventive, and legal, accounting tactics they've been using, Apple would have to pay an estimated $2.4 billion more in taxes to the United States government alone.

What does everybody think? are they exploiting a loop hole, to save 2.4 billion in tax, or are they just a lot smarter than the average corporate giant ?

From a personal point of view i am not a fan as my own company would love to pay 8.84%, its a hell of a lot better than 45% we get slugged here.

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#3 User is offline   Ken Gracey 

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Posted 29 April 2012 - 11:28 AM

Go for it Pegi, Go For It.


O unless you are on the side of paying hire taxes in that case this could happen to you :002:
Come on 20K




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#4 User is offline   pegi 

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Posted 29 April 2012 - 11:32 AM

Like we say in French ; "you want me dead " and by the same token my head as a trophy!



View PostKen Gracey, on 29 April 2012 - 11:28 AM, said:

Go for it Pegi, Go For It.


O unless you are on the side of paying hire taxes in that case this could happen to you :002:

If you don't ask, there will be no answer!
Curiosity has immense benefits for all!
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#5 User is offline   Dylstra 

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Posted 29 April 2012 - 11:54 AM

Businesses have an obligation to minimise their taxes by any legal means.

However, behaving like the miners have here recently is beyond the pale.

To minimise taxes is one thing, to threaten, coerce, and otherwise actively campaign against is another thing.
You might not know it to look at me, but I'm pretty radical.

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#6 User is offline   pegi 

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Posted 29 April 2012 - 11:58 AM

Ok. Huge companies like Apple that are making insane profits and do not know what to do with their money, go offshore. They are not the only one of course, there are hundred /thousands of these around the globe where fiscal paradise minimise their profits.

They are part of an oligarchy that preserve their privileges to the detriment of the general public. I do not use terms like people or proletariat. They are too incendiary terms and have too many connotations. So I will use" the general population " What do they do with all this money? Ok shares,stockmarkets make more people happy and CEO's with huge payout and bonuses. What on earth do you need all this money?

I have nothing against money in the slightest we all need it to live and that is a fact. What we are seeing is a weakening and impoverishment of the general public and governments to be powerless to curb this insanity. We feel powerless and cheated. So in the view of this political views is to go on taxing local mediums companies and PAYEs to the highest possible degree in order to make up for the evasion of these taxes byt the BIG ones.

Dilemma! yes, if taxes were high these big ones move overseas where labour is cheaper, depraving the public of jobs and earned taxes for the government. I call this the disarmament of a nation as well as the problems of not having enough money for schools, hospitals, infrastructure, transport, telecommunications and so on.No more industries. Towns perish, have a look at some cities in the USA. It becomes a very precarious situation for the nation state.

When there is nothing more to sell what have got left? When all companies go off shore for saving money what money is left to run the country? When companies avoid or are allowed to store their fund in fiscal paradise what chances have we got to bring the general public a decent way of life?

So personally I think that this ideology that has been pervasive over the last 30 years under the pretexte that things are cheaper in India or China Cambodia or Vietnam needs a reconfiguration and a deep one otherwise we are moving in a very dangerous situation.

PS: it is weird that Foreign countries can come and buy land, house and companies .Have you tried to buy a piece of land in Vietnam, Thailand, Cambodia or China?

Also let me say I do not belong to ANY political or religious affiliation whatsoever. My thoughts are drawn from my experience and observation since I moved back to Australia after living in Malaysia for many years. A net deterioration of a way of life that never existed before .
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#7 User is offline   pegi 

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Posted 29 April 2012 - 01:13 PM

I agree with you there. It is know that Govern. are always avid to collect more...but from a certain type of businesses only. The one they can skin.



View PostDylstra, on 29 April 2012 - 11:54 AM, said:

Businesses have an obligation to minimise their taxes by any legal means.

However, behaving like the miners have here recently is beyond the pale.

To minimise taxes is one thing, to threaten, coerce, and otherwise actively campaign against is another thing.

If you don't ask, there will be no answer!
Curiosity has immense benefits for all!
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