Apple says that the US$70 million it spent on public benefits in Cupertino should allow the company to be exempt from the tax.
The company says it doesn’t want to “prejudice” its challenge to an EU order.
Attac accuses Apple of dodging local taxes, an offshoot of controversy over Apple’s international corporate structure, and a court ruling affirmed their right to protest at Apple Stores.
At Wednesday’s closing price of $179.10, each employee would receive (roughly) 14 shares of restricted stock units that would then vest over time.
Apple made some major announcements about taxes, investments, and the company’s five year plan for contributions to the U.S. economy, and Bryan and Jeff take a deep dive into what it all means. They also examine their own potential for hypocrisy in criticizing Apple’s smarthome strategy. The cap the show with a listener comment about the Mac App Store security bug.
In a long press release, the company said increased investment, existing plans, and a one-time tax would add up to a $350 billion contribution to the nation’s economy.
The money is owed on roughly $245 billion in overseas profits being repatriated under the recent tax overhaul bill signed into law by President Trump.
The company released a 1,240 word document detailing its international tax practices and making the case that it’s the world’s biggest taxpayer.
The U.S. wants to tax all of Apple’s overseas money before the European Union gets a chance.
Apple is a master of making profits, and an expert and keeping its money out of government hands. Bryan Chaffin and Jeff Butts join Jeff Gamet to offer their thoughts on Apple’s tax practices in New Zealand and other countries.
Apple paid roughly zip to New Zealand Inland Revenue—that country’s taxing authority—over ten years, even while selling $4.2 billion in merchandise in the country. The practice is scrupulously legal—and therefore OK in the eyes of many. Bryan Chaffin, however, doesn’t think it’s right.
The Daily Telegraph of London published a scathing condemnation of the European Union’s accusation that Ireland is giving Apple illegal state aid. The editorial breaks down the case against Ireland and Apple, characterizing the legal principles to be in violation of the EU’s own principles. Bryan Chaffin explains the whats and whos.
The Irish government said Tuesday that it will formally filed an appeal against the European Commission’s judgement that Apple owes billions of dollars in back taxes. The move was expected, and the filing later this week will simply be one step of many in the ongoing fight over Ireland’s treatment of multinational corporations.
The European Union says Apple owes €13 billion (about US$14.5 billion) in back taxes because Ireland gave the iPhone and Mac maker illegal and unfair tax advantages. Apple and Ireland have both condemned the ruling maintaining they acted within the country’s laws, and are planning to appeal the ruling.