HOW DOES APPLE DO IT?

Evilember
Evilember

Paying .005% tax rate and the Irish Government likes it that way.

HOW DOES APPLE DO IT?

All urls found in this thread:
http://www.bbc.com/news/business-37220799
https://www.google.com/amp/www.fool.com/amp/investing/general/2016/01/03/10-best-tax-havens-in-the-world.aspx
Raving_Cute
Raving_Cute

http://www.bbc.com/news/business-37220799
Apple should repay Ireland 13bn euros, European Commission rules

/biz/
no one else talks about this
why?

Harmless_Venom
Harmless_Venom

https://www.google.com/amp/www.fool.com/amp/investing/general/2016/01/03/10-best-tax-havens-in-the-world.aspx

THEY CANT KEEP GETTING AWAY WITH IT

in reality, turns out it's better in the long run to attract capital, wealth and jobs to your nation than drive them out with high taxes so you can give literal retards limitless healthcare

Lord_Tryzalot
Lord_Tryzalot

Brown envelopes friend, brown envelopes.

Boy_vs_Girl
Boy_vs_Girl

@Evilember
Not gonna lie, Apple products have a ridiculously long durability. My ipod classic and mac pro is still working fine 10 years on

haveahappyday
haveahappyday

@Harmless_Venom
capital
wealth

they're attracting neither, $13bn is literally just being funneled through ireland at the cost of 5000 jobs

SomethingNew
SomethingNew

@Boy_vs_Girl
What desktop wouldn't still be working fine after 10 years? Outside of the rare dead hard drive, I've never had a single desktop component die on me in 20+ years. Laptops on the other hand...

askme
askme

@Boy_vs_Girl
ipod classic
Apple's one-hit wonder. I still have mine too. Everything released in the last ~7 years tho is crap

idontknow
idontknow

I suppose Ireland's stance is "hey we take in about EU75,000,000 each year in income tax from these 5,000 workers so we're happy, being a small island and not needing much money and all that business...

But there's a big gap between 75M euro and 13B usd...

'International tax laws' are retarded. They're sole purpose is to exploit and bypass existing national laws in a way that benefits the business/individual, not the common good

Gigastrength
Gigastrength

@haveahappyday
If they took the 13b and apple just up and left (not that they would). The govt. could still pay those 5000 employees an average of 50k a year for FORTY Years and still have 3b left over, hell they could even charge them income tax on that anyway. Spend that 3b on getting those 5k to mend roads build houses etc.

Obviously that won't happen as that money is going straight into Noonans back pocket to give right back Apple, with a small bit cut off the top for himself and the lads of course.

Emberburn
Emberburn

@Harmless_Venom
ireland has universal healthcare

Need_TLC
Need_TLC

@Evilember
Wow so CBS's spin is "fuck Ireland, now US AMERICANS will have to foot the bill because mug foreign paid tax credits!!!"

Crazy_Nice
Crazy_Nice

@idontknow
But there's a big gap between 75M euro and 13B usd

Both of your numbers are wrong. First off the tax rate Apple had has been going on for 2 decades and Federal tax is only one part of the government benefit of having people employed. Unemployed people cost the government money!

Evilember
Evilember

@haveahappyday
they're attracting neither, $13bn is literally just being funneled through ireland at the cost of 5000 jobs
They're attracting 5000 jobs (and overhead) of pure foreign-source revenue they wouldn't have had otherwise. Assuming that on average each of those jobs costs Apple $100,000 in local spending (including the salary, rent on buildings, payroll tax, etc.), that's half a billion dollars per year of hard currency coming into the Irish economy from abroad, at the cost of nothing but the labor of 5,000 Irish citizens who get to stay in Ireland.

That's a massive win in trade balance, and all Ireland has to do is serve as a tax haven for revenues they'd have no claim on otherwise.

Look at how Ireland's getting punished for it. "Oh, you didn't charge them enough taxes. Now you have to charge them billions of dollars in tax!"

They are making out like motherfucking BANDITS.

DeathDog
DeathDog

@Evilember
...and remember Apple isn't the only business Ireland has been tax-sheltering for. Not by a long shot.

This is worth billions in foreign cash per year. Who needs exports when you've got the luck o' the Irish?

Sharpcharm
Sharpcharm

@Crazy_Nice
What? Of course my estimated fucking income tax from their 5000 employees is wrong, it's a fucking estimation of I think I chose 15,000 euro per person.

As for the 13B I don't know how to troll a response to that when it's the figure the actual euro govt provided

And you say 'federal tax' as if Ireland has a 'federal' tax

You're irritating, fuck you

Flameblow
Flameblow

@Evilember
tax the workers instead of the companies
convenient for the people of said country
odd twisted logic

StrangeWizard
StrangeWizard

@Gigastrength
retard that 13B wouldnt have existed without apple, so what money exactly are they going to give to 5000 people?

Ignoramus
Ignoramus

@idontknow
'International tax laws' are retarded. They're sole purpose is to exploit and bypass existing national laws
It's all part of the great game of trade war, in which not only countries, but also factions of the international class with mobile capital are players.

Only the weak and vulnerable players want actually fair terms, but the strong and underhanded ones get pretty salty when unintended consequences work out to their disadvantage, even in limited cases.

Lunatick
Lunatick

Apple having all of these problems after they denied the Government a back door into iOS
Really makes you think...

Bidwell
Bidwell

@Lunatick
Probably didn't donate enough to Hillary's campaign.

BlogWobbles
BlogWobbles

@Flameblow
tax the workers instead of the companies
convenient for the people of said country
odd twisted logic
The first thing a country needs to survive economically is a balance of trade. The money coming into the country must equal or exceed, over time, the money going out of the country.

When the country, private and public together, has a net external debt, it has to satisfy that debt by paying interest to foreigners in return for nothing (or take drastic measures like defaulting, nationalizing foreign-owned property, and generally doing things that turn it into a third-world shithole). This is like ending up as a sharecropper. It can get arbitrarily bad, until your people are lining up to perform environmentally-destructive labor for foreign companies to produce goods for foreign consumption, in exchange for nothing but a pittance barely able to feed and shelter them while they are employed.

Ireland is a country of under 5 million people. Apple alone was bringing $100/year into the country for each of them, and they were only there for the tax haven. That's $100/year more that each man, woman, and child can import goods, pay down foreign debt, or acquire foreign assets. On one deal with one American company to help it shelter its revenue from taxation in other countries.

girlDog
girlDog

@Flameblow
Goddamn you're a fucking idiot. With a high corporate tax rate Ireland gets zero Euros. With a low corporate tax rate they get a bunch of Euros. Which do you think is better of Ireland in the long run?

Crazy_Nice
Crazy_Nice

@Flameblow
Retarded liberal/Bernout detected.

5mileys
5mileys

12.5% tax rates
the lowest in Europe
"high"

Even if Ireland had the same corporate tax rates as the rest of Europe, it would still be one of the best places to set up a foreign subsidiary. It's in a relatively central location, politically stable and business friendly, and everyone speaks English. Brexit fucked over the UK.

0.005% is so criminally low that the reason the US is so up in arms about it is because they couldn't figure out a way to sue Apple first so they can collect what is rightfully theirs at American tax rates.

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