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Thread: Apple Pays Just Under 2% on Overseas Profits.

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    Politics.ie Member sport02's Avatar
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    Default Apple Pays Just Under 2% on Overseas Profits.

    Not a bad days filing for Apple.
    Apple paid less that 2% corporation tax on its profits outside the US, its filing with US regulators has shown.

    Apple paid $713m (445m) in the year to 29 September on foreign pre-tax profits of $36.8bn (23.0bn), a rate of 1.9%.
    Apple channels much of its business in Europe through a subsidiary in the Republic of Ireland, which has lower corporation tax than Britain.
    BBC News - Apple paid only 2% corporation tax outside US

    A couple other links from Sky News and the Guardian.

    Apple Paid Just 2% Tax On Overseas Profits

    Apple paid less than 2% tax on overseas profit last year | Technology | guardian.co.uk

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    Politics.ie Member sport02's Avatar
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    I thought this was a good tweet by a Greek journo.
    Twitter / NickMalkoutzis: Apple paid 2% tax on overseas ...

    Apple paid 2% tax on overseas profit reports @guardian. Good job it's not run by a Greek, someone might have objected.

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    Will be handy for them. I heard having indentured wage slaves making your products can be expensive. This might help pay for the suicide prevention nets at some of their Chinese factories.
    Last edited by niall78; 5th November 2012 at 03:26 AM.

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    simeongrimes
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    It's a bit misleading to say Apple is channeling its European business through Ireland. The fact is Apple's European operation is based in Cork where it employs a couple of thousand people and has done for decades.

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    Politics.ie Member Red_93's Avatar
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    And they exploit their Irish workers, in many cases renewing contracts on a month-by-month basis, meaning NO job security for workers who have worked there for years. Despite the fact that this has been long ongoing, nothing has been done because the govt are afraid they will close up in Holly Hill.

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    Communism used to be seen as the biggest threat to democracy. In reality capitalism is now the biggest threat to democracy. MNC's are too powerful for any country to force them to pay realistic tax rates so the workers of the world pick up the tax deficit to the benefit billion dollar corporations and their already wealthy investors.

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    Less than 2%...Now there's the "elephant in the room" in the true meaning of that phrase...

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    Politics.ie Member Mr. Bumble's Avatar
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    Quote Originally Posted by Red_93 View Post
    And they exploit their Irish workers, in many cases renewing contracts on a month-by-month basis, meaning NO job security for workers who have worked there for years. Despite the fact that this has been long ongoing, nothing has been done because the govt are afraid they will close up in Holly Hill.
    Actually, since it was set up in 1980, Apple has been an excellent employer and it remains an excellent employer in Cork. They treat and pay their workers very well. Ditto their suppliers. My company was a supplier for many years and I found them to be excellent customers - fair, prompt payment, inclusive and loyal. They have created many jobs indirectly (Alps being a prime example). Apple continue to be a massive employer and Cork would be much poorer without them. Wrt to your point that their jobs are contract only, the majority of the latest jobs being advertised by Apple are full time permanent. Apple jobs in Kerry, Tipperary, Waterford, Cork, Clare, Limerick - Jobs.ie - Jobs in Ireland. Irish Jobs.
    Last edited by Mr. Bumble; 5th November 2012 at 12:26 AM.
    Cry your hardest now, it opens the lungs, washes the countenance, exercises the eyes and softens down the temper. So cry away.

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    Dylan2010
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    Quote Originally Posted by floatingvoter2011 View Post
    Communism used to be seen as the biggest threat to democracy. In reality capitalism is now the biggest threat to democracy. MNC's are too powerful for any country to force them to pay realistic tax rates so the workers of the world pick up the tax deficit to the benefit billion dollar corporations and their already wealthy investors.
    aww...shame its not like the old days where the governments and unions could rob companies blind

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    Quote Originally Posted by Dylan2010 View Post
    aww...shame its not like the old days where the governments and unions could rob companies blind
    When was that then? When has corporation tax been more than personal income tax? Governments are taxing workers to subsidise the multi billion euro profits of multi national corporations. A Universal social charge for people just above minimum wage, no universal social charge on corporate profits. Even the financial transaction tax couldn't be introduced despite the destruction the financial sector have wreaked. We have become hostages to unelected corporations that have become more powerful than elected governments.

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