What do you know? Looks like Apple got special tax breaks from Ireland.

IWETHEY v. 0.3.0 | TODO

1,095 registered users | 0 active users | 0 LpH | Statistics
Login | Create New User

Welcome to IWETHEY!

Post #401,334

by Another Scott

4/30/15 8:05:33 AM

What do you know? Looks like Apple got special tax breaks from Ireland.

CNET (it was more funner when it was http://news.news.news.news.com):

Apple CEO Tim Cook two years ago testified before the US Senate that his company wasn't a tax dodger.

Now, Apple -- the world's biggest public company with a market value of over $750 billion -- may be forced to pay up to 10 years worth of back taxes to Ireland, according to a regulatory filing made by the company on Tuesday. Apple noted the amount could be "material," though said it couldn't estimate the level.

"The company believes the European Commission's assertions are without merit," Apple said in the filing with the US Securities and Exchange Commission. The company didn't immediately respond to a request for further comment.

The European Union in June 2014 opened an investigation into Apple's tax practices in Ireland. At the time, the group said it was examining whether Apple's tax rate -- about 2 percent, which is far less than the standard 12.5 percent corporate tax -- amounted to illegal state aid from Ireland. Apple has said it obtained the better rate through negotiations with the Irish government.

[...]

Poor suffering Apple. If they only had lower taxes they would do so much better...

:-/

(via Baud at Balloon-Juice)

Cheers,
Scott.

What do you know? Looks like Apple got special tax breaks from Ireland. - (Another Scott) - April 30, 2015, 08:05:33 AM EDT

You're typing on a device that stores trillions of pieces of data and makes billions of computations per second with the ability to grab data on almost anything from around the world in milliseconds, using electricity transmitted from hundreds of kilometers through wires on towers dozens of meters tall connected to megastructures that do things like burn coal as fast as entire trains can pull into the yard, or spin in the wind with blades the size of jumbo jets, or the like, which were delivered to their location by vehicles with computer-timed engines burning a fuel that was pumped up halfway around the world from up to half a dozen kilometers underground and locked into complex strata (through wells drilled by diamond-lined bores that can be remote-control steered as they go), shipped around the world in tankers with volumes the size of large city blocks and the height of apartment complexes, run through complex chemical processes in unimaginable quantities, distributed nationwide and sold to you at a corner store for $1.80 a gallon, which you then pay for with a little piece of microchipped plastic, if not a smartphone, which does all of the aforementioned computer stuff but in a box the size of your hand that tolerates getting beaten up in your pocket all day.

But technology never seems to advance...

44 ms