Featured Articles

Apple iPad Air 2 costs $275 to build

Apple iPad Air 2 costs $275 to build

IHS has told Recode that the Apple iPad Air 2 16GB Wifi costs only $275 to build -- not bad…

More...
LG sells 16.8 million smartphones in Q3 14

LG sells 16.8 million smartphones in Q3 14

As Samsung is losing market share, another Korean company, which many had written off, is gaining.

More...
LG G Watch R EU price set at €299

LG G Watch R EU price set at €299

LG G Watch R is probably the best looking Android Wear device on the market and many have been waiting for…

More...
Nvidia GTX 970 SLI tested

Nvidia GTX 970 SLI tested

Nvidia recently released two new graphics cards based on its latest Maxwell GPU architecture, with exceptional performance-per-watt. The Geforce GTX 970…

More...
Gainward GTX 970 Phantom previewed

Gainward GTX 970 Phantom previewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Monday, 28 January 2013 14:00

Apple hiding billions from taxman

Written by Peter Scott



As if hoarding $138 billion is not enough


Consumer electronics juggernaut Apple is apparently hiding billions in offshore tax havens.

According to Apple’s Q4 corporate filings, the company channeled $11 billion into tax havens in a single quarter. The Sunday Times claims the company is sheltering a total of $94 billion in tax havens. However, Apple’s activities are completely legal and the IRS can’t do anything about it.

But Apple’s tax avoidance strategy is not limited to the US. The company is avoided an estimated £550 million in tax in Britain back in 2011. A different analysis suggests a £550 million tax bill. Let’s not forget Kate Middleton is about to have a baby, and babies tend to cost money, so shame on you Apple.

American politicians, from both sides of the political spectrum, like to have their photos taken next to anything Apple.  The company is often viewed as an American success story, as it managed to reinvent itself and come back from the brink to become the world’s second most valuable company.

Although it’s legal, hiding $94 billion in offshore tax havens doesn’t sound too patriotic and wouldn’t make much of a talking point for “patriotic” has-beens running for office.

More here.


Peter Scott

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments