Apple Ordered to Pay $14.5 Billion in Back Taxes

[GPRS Internet]

BRUSSELS- E.U. antitrust regulators ordered Apple on Tuesday to pay up to 13 billion euros ($14.5 billion) in taxes plus interest to the Irish government after ruling that a special scheme to route profits through Ireland was illegal state aid.

The massive sum, 40 times bigger than the previous known demand by the European Commission to a company in such a case, could be reduced, the E.U. executive said in a statement, if other countries sought more tax themselves from the U.S. tech giant.

http://time.com/4472144/apple-ordere.../?xid=homepage

[pezz]

wait... aren't you the one always bragging about Apple's profit like you sit on the board with Tim Cook? lol

Now you know where most of it come from. TAX EVATION.

Apple is not the only one doing it, but they are evading tax at a much higher rate than others based on this report. Is .005% tax really anything LOL.

[GPRS Internet]

Paying over $14B outta $230+B is like cheese for Apple lol
As a large company finding loopholes is part of business.. Facebook is killer on this as well..

Tax man always seem to find a way to get back at you thou.. lol

[pezz]

Paying over $14B outta $230+B is like cheese for Apple lol
As a large company finding loopholes is part of business.. Facebook is killer on this as well..

Tax man always seem to find a way to get back at you thou.. lol

Is that $230B their value or the cash they have in the bank?

Mind posting links?

[pezz]

Apple doesn't have as much money as you seem to think.

The problem with Apple’s “cash pile” is that most of it is not actually “cash” nor “on hand,” and it doesn’t take into account Apple’s debt. Apple has about $16.7 billion in cash and equivalents on its balance sheet. The majority of the assets included in its reserve is stashed in long-term marketable securities, meaning Apple plans to let those funds — roughly $177.7 billion — accrue interest for more than a year.

More importantly, almost all of Apple’s cash and securities are stashed overseas, proceeds from sales outside the United States that Apple will not bring back because it would then have to pay U.S. taxes. Maestri said Tuesday that $200 billion of Apple’s reserves — a whopping 93% — are overseas, and Cook has expressly said Apple does not plan to sacrifice roughly 40% of that stash in order to bring the proceeds home to Cupertino, Calif.

While cash and securities pile up overseas, Apple is piling up debt in the United States. The company currently sits on about $53.2 billion in long-term debt obligations as well as $32.2 billion in “non-current liabilities,” after executing a series of bond sales including the largest in history for a nonfinancial U.S. business.

http://www.marketwatch.com/story/app...ash-2016-01-26

Damn Apple is just evil in every way lol

[GPRS Internet]

Apple or any other top dog company will never truly disclose how much cash they have at hand... what ever they say they have multiply that by 50 lol

[topanaris]

Apple doesn't have as much money as you seem to think.


http://www.marketwatch.com/story/app...ash-2016-01-26

Damn Apple is just evil in every way lol

You know when I hear people keep regurgitating the nonsense about how much "cash" Apple has without ever looking at their balance sheet I just laugh. Apple wont pay this obviously some deal will be worked out and they will pay a fraction of that sum if anything at all, and I am assuming they will file an appeal of some sort.

But what Apple has been doing where tax evasion is concerned is criminal, there is no reason why the average American citizen should be paying more taxes per $1 than the most valuable company on the planet.

[pezz]

Apple or any other top dog company will never truly disclose how much cash they have at hand... what ever they say they have multiply that by 50 lol

As a public traded company Apple has to. So yes they disclose it. Only private companies don't. Hiding it is criminal, but Apple I don't put anything passed them.

You can readily access any public company cash information. I recently looked at the mobile/isp carriers cash info where I live. And was surprise at the profit they make per year but still increase price for service to cover additional cost -_-

You know when I hear people keep regurgitating the nonsense about how much "cash" Apple has without ever looking at their balance sheet I just laugh. Apple wont pay this obviously some deal will be worked out and they will pay a fraction of that sum if anything at all, and I am assuming they will file an appeal of some sort.

But what Apple has been doing where tax evasion is concerned is criminal, there is no reason why the average American citizen should be paying more taxes per $1 than the most valuable company on the planet.

Yeah they probably wont pay as much.

[GPRS Internet]

As a public traded company Apple has to. So yes they disclose it. Only private companies don't. Hiding it is criminal, but Apple I don't put anything passed them.

You can readily access any public company cash information.

Yea, but as mentioned there are many many loopholes large companies use to stay under the radar, it's nearly impossible to truly know how much cash these companies have at hand...

Apple has filed an appeal already..

[topanaris]

Yea, but as mentioned there are many many loopholes large companies use to stay under the radar, it's nearly impossible to truly know how much cash these companies have at hand...

Apple has filed an appeal already..

Its on their balance sheet, like i said all you had to do was look. The balance sheet wont tell you where the funds are but it will tell you how much of it there is.