Apple could owe more than $8 billion in back taxes if the European Commission finds issue with the iPhone maker's corporate tax policies in Ireland, according to analysis by Bloomberg Intelligence.
Apple is one of several multinational corporations that have been scrutinized for corporate tax avoidance in Europe over the past few years. The European Commission began Apple's tax probe in June 2014, and formally accused the iPhone maker of receiving illegal state aid from Ireland three months later.
The company's $64.1 billion in profit generated from 2004 to 2012 could be subject to a 12.5% tax rate, compared to its current foreign tax rate of about 1.8%, depending on the outcome of the investigation. A decision in the probe is expected in Brussels by March, possibly after the 2016 Irish election.
Apple's tax breakdown in Ireland (Image: Bloomberg Intelligence)
Apple operates multiple subsidiary companies in Ireland to pay significantly less tax outside the U.S., where it earns about 55% of its revenue. Apple continues to deny any wrongdoing, and both the company and Ireland vow to take the European Commission to court over any negative verdict.
Last month, Apple agreed to pay 318 million euros in Italy to settle an investigation that accused the company of booking profits generated in Italy through an Irish subsidiary, in an effort to lower its taxable income base and save 879 million euros between 2008 and 2013. Italian regulators concluded that tax probe in March.
Note: Due to the political nature of the discussion regarding this topic, the discussion thread is located in our Politics, Religion, Social Issues forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.
Why does anyone defend a multi-billion dollar company from paying their taxes considering how much they benefit from the rest of society?
I'll never ever understand the conservative mindset, it's rather nutty.
What I'll never understand is why it is considered greedy to want to keep money that you've earned, but it's NOT considered greedy for someone to take someone else's money that the earner has earned and the taker hasn't.
The EU should really stick to what it does well and keep its hands off countries tax policies.
If countries join the EU, which is a free-trade zone, the EU has an interest in establishing consistent tax policies. Due to membership in the EU, a country such as Ireland is protected from having tariffs imposed on it by other EU countries; the EU gets those regulatory rights, in return. It's only fair and reasonable. If Ireland doesn't like it, they can leave the EU.
Apple's second-generation AirPods Pro are finally nearing launch, with a release expected later this year. If you are considering upgrading to the new AirPods Pro once they are released, keep reading for a list of five new features to expect.
In addition to all-new features, the second-generation AirPods Pro will likely adopt some features added to the standard AirPods last year.
H2 Chip
...
There's just about a month to go until Apple holds its annual September event focusing on new iPhone and Apple Watch models. We thought we'd take a quick look at everything that's rumored for Apple's September event to give MacRumors readers a rundown on what to expect when the first fall event rolls around.
iPhone 14
The iPhone 14 can probably be described more as an "iPhone 13S" because...
Apple's rumored 10th-generation iPad is currently in production and will feature "major" design changes, according to a report from Taiwanese website DigiTimes.
A mockup of the potential 10th-generation iPad design by Renders By Shailesh The report did not provide any specific details about the 10th-generation iPad's new design, but rumors suggest the device will feature a larger 10.5-inch...
Monday August 15, 2022 10:04 am PDT by Juli Clover
Apple today seeded the sixth betas of upcoming iOS 16 and iPadOS 16 updates to developers for testing purposes, with the updates coming a week after Apple released the fifth developer betas.
Registered developers can download the iOS and iPadOS 16 profiles from the Apple Developer Center, and once installed, the betas will be available over the air.
iOS 16 introduces a revamped Lock...
The Apple Watch SE was announced in September 2020 and has been a popular Apple Watch model for customers looking for their first smartwatch or an affordable Apple Watch. Apple Watch SE customers may be wondering, however, what's in store for them with the upcoming Apple Watch Series 8 and what new features they can expect. Continue reading to find out. Apple Watch SE vs. Apple Watch Series ...
Samsung today announced the launch of the Odyssey Ark, which the company says is the world's first 55-inch 4K curved display with a 165Hz refresh rate for improved gaming performance. Samsung first previewed the monitor at CES, but it is now available to order.
Subscribe to the MacRumors YouTube channel for more videos. Priced at $3,500, the Samsung Odyssey Ark features mini-LED technology...
This week brought some shocking news for iOS 16 beta testers, with Apple bringing back the iPhone battery percentage to the status bar after a number of years.
Other news and rumors this week included word that Apple has started recording portions of its media event planned for next month to introduce the iPhone 14 and Apple Watch Series 8, claims about iPhone 14 Pro pricing and Apple's...
Apple could owe more than $8 billion in back taxes if the European Commission finds issue with the iPhone maker's corporate tax policies in Ireland, according to analysis by Bloomberg Intelligence.
Top Rated Comments
I'll never ever understand the conservative mindset, it's rather nutty.