Read

User menu

Search form

Apple Avoided Paying Billions in Taxes

Apple Avoided Paying Billions in Taxes
This article originally appeared on Gawker and TechCrunch

Senate investigators have found that Apple avoided paying taxes on "tens of billions" of dollars over the past four years by taking advantage of U.S. and Irish tax loopholes. In fact, Apple didn't pay taxes (to any country) on a whopping $74 billion over the past four years, after setting up a subsidiary in Ireland that controls its entire international operation.

According to the Wall Street Journal, "Irish tax law only considers companies residents of the small European country if they are managed and controlled there, and Apple manages them from the U.S."

Effectively, Apple paid no taxes on its international profits to anyone. And they didn't break any laws while doing it.

In a statement Monday, Apple said that it "welcomes an objective examination of the U.S. corporate tax system, which has not kept pace with the advent of the digital age and the rapidly changing global economy."

In other words, Apple welcomes your feeble attempts to try to get them to pay taxes.

Meanwhile, on Tuesday, Apple’s CEO Tim Cook came out firing during his Congressional grilling, declaring, “we pay all of the taxes we owe, every single dollar.” A blistering senate investigation accused Apple of shady tax dodging, helping it avoid $13.8 billion in taxes.

In his opening testimony, Cook affirmed Apple’s position that “we don’t rely on tax gimmicks” to avoid paying any taxes (for a review of how Apple stashes cash oversees, see our previous post).

Cook had supporters on the panel, especially Senators Clare McCaskill and Rand Paul, a known libertarian who favors dramatically lowering the corporate tax rate.

Paul wigged out on his fellow senators, accusing them of vilifying a great American company for fulfilling their responsibility to maximize shareholder value.

McCaskill admonished Paul for his accusations against his senate colleagues, but made sure to note that “I. Love. Apple…I harassed my husband until he converted to a MacBook.”

Cook, for his part, lobbied for a simpler U.S. tax code, which he said should be “revenue neutral, eliminate all corporate tax expenditures, a reasonable tax rate on moving foreign cash back to the U.S. We make this recommendation with eyes open, knowing it would probably raise our own tax payouts.”

Cook admitted his tax recommendation, “fully recognizing that this would result in an increase in Apple’s U.S. taxes.”

 
 

3 WAYS TO SHOW YOUR SUPPORT

ONE-TIME DONATION

Just use the simple form below to make a single direct donation.

DONATE NOW

MONTHLY DONATION

Be a sustaining sponsor. Give a reacurring monthly donation at any level.

GET SOME MERCH!

Now you can wear your support too! From T-Shirts to tote bags.

SHOP TODAY

Sign Up

Article Tabs

Yarvin saw the “red pill” as the realization that the Enlightenment ideals he came to associate with “the cathedral” and democracy are actually a poison leading to societal decadence and decline.

It is clear that authoritarian fascists, in the United States and elsewhere, do not want education that promotes critical thinking.

As the American public continues to publicly stand up to the administration, Trump’s grip on power will eventually slip.

If Trump indeed tanks your 401(k) to make himself and his friends even richer, the opposition party should make that the centerpiece of their attack heading into next year’s election.

The burgeoning pro-democracy, anti-Trump movement known as 50501 expects to drive tens and possibly hundreds of thousands to protest in 1,000 cities and towns on Saturday.

Yarvin saw the “red pill” as the realization that the Enlightenment ideals he came to associate with “the cathedral” and democracy are actually a poison leading to societal decadence and decline.

It is clear that authoritarian fascists, in the United States and elsewhere, do not want education that promotes critical thinking.

As the American public continues to publicly stand up to the administration, Trump’s grip on power will eventually slip.

In many European countries, the far right holds or shares power. Democracy is in crisis.

If Trump indeed tanks your 401(k) to make himself and his friends even richer, the opposition party should make that the centerpiece of their attack heading into next year’s election.

The burgeoning pro-democracy, anti-Trump movement known as 50501 expects to drive tens and possibly hundreds of thousands to protest in 1,000 cities and towns on Saturday.

Posted 1 month 3 days ago

In many European countries, the far right holds or shares power. Democracy is in crisis.

Posted 3 weeks 4 days ago

If Trump indeed tanks your 401(k) to make himself and his friends even richer, the opposition party should make that the centerpiece of their attack heading into next year’s election.

Posted 3 weeks 4 days ago

The only thing overshadowing the evil of the regime is its incompetence. And the people are only just beginning to realize the power we have.

Posted 1 month 3 days ago

As the American public continues to publicly stand up to the administration, Trump’s grip on power will eventually slip.

Posted 6 days 9 hours ago

In many European countries, the far right holds or shares power. Democracy is in crisis.

If Trump indeed tanks your 401(k) to make himself and his friends even richer, the opposition party should make that the centerpiece of their attack heading into next year’s election.