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You say "yuck" but that open letter does contain more than just a few historical points. Set aside the "emotional" stuff and there are some statements worth tak
by sjwright 10y ago
You say "yuck" but that open letter does contain more than just a few historical points. Set aside the "emotional" stuff and there are some statements worth taking seriously.
"we have become the largest taxpayer in Ireland, the largest taxpayer in the United States, and the largest taxpayer in the world."
An impressive feat for a company that has around 13% of the smartphone market and 7% of the computer market. Yes they're a big company with lots of revenues, but I find it hard to believe that if Apple was so aggressively dodging tax that they'd still be the world's largest taxpayer.
"the vast majority of our profits are taxed in the United States"
Is this true? Are a majority of Apple's profits taxed in the United States at normal business tax rates? If so, that would put the flurry of accusations into some degree of proportionality.
"The opinion issued on August 30th alleges that Ireland gave Apple a special deal on our taxes. This claim has no basis in fact or in law. We never asked for, nor did we receive, any special deals."
"It is effectively proposing to replace Irish tax laws with a view of what the Commission thinks the law should have been."
Which if this is the case, the UN has a problem with Ireland's laws, not with Apple. This is the first piece of news that has made me wonder if the UK was right to brexit.
- twoodfin 10y agoLast year, Apple had $72.5B in worldwide pre-tax profits and paid $19.1B in US corporate income taxes. That's an effective rate of ~26%, even thought > 60% of their revenue is from sales outside the US. https://finance.yahoo.com/quote/AAPL/financials?p=AAPL https://finance.yahoo.com/quote/AAPL/financials?p=AAPL
- sjwright 10y agoWow, those numbers really put all this into perspective.