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Thursday, March 06, 2014

Apple: Not illegal, but mighty crooked to avoid paying fair share of taxes

Apple paid €36m tax on $7.11bn profits at Irish unit - Economic News | Ireland & World Economy Headlines |The Irish Times - Fri, Mar 07, 2014: "Detailed figures have emerged to
illustrate how Apple has managed to pay almost no corporation tax for years on billions of dollars of revenue earned in other countries, using unlimited Irish entities.
According to accounts obtained by The Irish Times for one of those unlimited companies, Apple Sales International (ASI), the consumer electronics giant cut its Irish tax bill by more than €850 million between 2004 and 2008, using an unexplained “lower rate”.
ASI provides “sales and marketing services” to Apple subsidiaries around the world that sell iPods and iPads. Between 2004 and 2008, it reported profits before tax totalling $7.11 billion on sales of more than $29 billion."



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