Apple Agrees To Pay Italy $347 Million In Back Taxes

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Hold on a second! I thought all this talk about having to pay back taxes was, and I'm quoting Tim Cook, "total political crap." :rolleyes:

Apple has agreed to pay €318m (£234m) to settle a tax dispute with Italian authorities after the iPhone and iPad maker was investigated for suspected fraud, the country’s tax agency has confirmed. The US technology giant’s Italian subsidiary and several of its senior executives had been under investigation for fraud over its alleged failure to comply with obligations to declare its earnings in Italy between 2008 and 2013.
 
Two different things. Cook's "political crap" comment was about overseas earnings never moved into the US which is not taxable. This is about Italy getting back taxes on money earned in Italy.
 
Fuck this asshole companies... Fuck them.. The government should declare 35% of all offshore money theirs, and leverage, borrow against it , do derivatives, whatever... Screw this companies wallstreet style, put their assets into play if that is what it takes. … enough of this shit... On the other hand clearly other countries are catching up... You go where the money is and take it heheh .
 
There will eventually be not a single country in the entire world that does not 'get theirs' when it comes to all of these multinational borderless companies and their base of operations.

At that point, i suspect we (the US) won't appear so bad when some of these other countries levy far more of a taxation burden than we ever did, are doing, or will be doing.

Funny how some things may work out :p
 
Fuck this asshole companies... Fuck them.. The government should declare 35% of all offshore money theirs, and leverage, borrow against it , do derivatives, whatever... Screw this companies wallstreet style, put their assets into play if that is what it takes. … enough of this shit... On the other hand clearly other countries are catching up... You go where the money is and take it heheh .

That would be economically redundant since Apple uses their money to buy US bonds.
 
Fuck this asshole companies... Fuck them.. The government should declare 35% of all offshore money theirs, and leverage, borrow against it , do derivatives, whatever... Screw this companies wallstreet style, put their assets into play if that is what it takes. … enough of this shit... On the other hand clearly other countries are catching up... You go where the money is and take it heheh .

Is that you, CUG?
 
There will eventually be not a single country in the entire world that does not 'get theirs' when it comes to all of these multinational borderless companies and their base of operations.

At that point, i suspect we (the US) won't appear so bad when some of these other countries levy far more of a taxation burden than we ever did, are doing, or will be doing.

Funny how some things may work out :p

Any evidence of this? The fact is, the US is about the only western country that taxes overseas income. The UK does as well, but only if the taxes paid overseas are less than the UK tax rate. In that case they pay the difference. But, even then the UK corporate tax rate is much lower than the US, so a UK company doesn't pay UK taxes on US based earnings.

But, as I mentioned earlier, this is not what the article is about. this is about Apple not paying enough taxes in Italy on money earned in Italy. This is an entirely different situation.
 
Two different things. Cook's "political crap" comment was about overseas earnings never moved into the US which is not taxable. This is about Italy getting back taxes on money earned in Italy.

From the "total crap" article:

Apple Inc Chief Executive Tim Cook dismissed as "total political crap" the notion that the tech giant was avoiding taxes. "Apple pays every tax dollar we owe," Cook told 60 Minutes.

...as they were avoiding paying $350M in taxes since 2008.
 
Fuck this asshole companies... Fuck them.. The government should declare 35% of all offshore money theirs, and leverage, borrow against it , do derivatives, whatever... Screw this companies wallstreet style, put their assets into play if that is what it takes. … enough of this shit... On the other hand clearly other countries are catching up... You go where the money is and take it heheh .

You do understand what you are saying right? You said that the U.S. Government should take 35% of money earned outside the United States. That would be like paying U.S. sales tax on beer in Beligum, just doesn't make sense.

Strangely enough, I agree with this tax shelter move that companies are doing. No matter how successful your business is, a 40% tax rate is criminal. Maybe the U.S. could drop that down a bit and see money flowing back into its coffers.
 
From the "total crap" article:



...as they were avoiding paying $350M in taxes since 2008.

The title of the total crap article:
Tim Cook calls notion of Apple avoiding U.S. taxes 'political crap'

The total crap article is talking about Overseas earnings and paying US taxes. Something that is totally legal and absolutely political crap.

This latest is something different as I said. Not paying enough Italian taxes on money earned in Italy is a completely different topic.
 
You do understand what you are saying right? You said that the U.S. Government should take 35% of money earned outside the United States. That would be like paying U.S. sales tax on beer in Beligum, just doesn't make sense.

Strangely enough, I agree with this tax shelter move that companies are doing. No matter how successful your business is, a 40% tax rate is criminal. Maybe the U.S. could drop that down a bit and see money flowing back into its coffers.

Soooo? They are us business, and you do realize that taxes and possibly other expenses of doing business outside of the US get deducted? I don't know if they can deduct it without bringing in then profits.. That would be something. Would not surprise me. You should really think more deeply about what you are saying. A lot of what Us companies can do and a lot of the benefits they enjoy have been because of our government s action, including military.. Including trade agreements known to be completely destructive to our economy.. Now this fuckers turn around and don even want to pay a maximum of 35% on profits and it is a maximum.. Effective is usually lower or much lower. Taxes on profits, you know after all the fat cats are paid, and all the whores of the world trips are made for said fat cats.
 
Soooo? They are us business, and you do realize that taxes and possibly other expenses of doing business outside of the US get deducted? I don't know if they can deduct it without bringing in then profits.. That would be something. Would not surprise me. You should really think more deeply about what you are saying. A lot of what Us companies can do and a lot of the benefits they enjoy have been because of our government s action, including military.. Including trade agreements known to be completely destructive to our economy.. Now this fuckers turn around and don even want to pay a maximum of 35% on profits and it is a maximum.. Effective is usually lower or much lower. Taxes on profits, you know after all the fat cats are paid, and all the whores of the world trips are made for said fat cats.
I need a keyboard I guess heheh
 
Soooo? They are us business, and you do realize that taxes and possibly other expenses of doing business outside of the US get deducted? I don't know if they can deduct it without bringing in then profits.. That would be something. Would not surprise me. You should really think more deeply about what you are saying. A lot of what Us companies can do and a lot of the benefits they enjoy have been because of our government s action, including military.. Including trade agreements known to be completely destructive to our economy.. Now this fuckers turn around and don even want to pay a maximum of 35% on profits and it is a maximum.. Effective is usually lower or much lower. Taxes on profits, you know after all the fat cats are paid, and all the whores of the world trips are made for said fat cats.

Don't hold back ... tell us what you really think ... the whole USA tax process is fundamentally flawed anyways ... if average Americans were forced to pay 35% tax rates we would scream bloody murder (and the USA has some of the highest corporate taxes in the world) ... if you look at the distribution of federal revenues they get about 46% from income tax, 34% from payroll taxes (split between the workers and companies), 11% from corporate taxes, and 9% from other taxes and fees ... in addition the government borrows another 15% or so since they spend more than their tax revenues ... even with that about half the country pays no taxes at all

With such a large portion of our country's revenues dependent on workers we benefit from having large employers with a presence in the USA ... it is not advantageous to force companies to relocate completely due to excessive tax requirements ... a business also has a massive scaling effect on both local and global economies (they support travel industry revenues, telecom revenues, computer revenues, etc) ... the scaling with workers is more on the side of food, utilities, and services (and some manufacturing when we buy cars and electronics) ... everyone should be contributing to the economy (including the poor) and it wouldn't hurt the government to shave a few hundred billion off of their 3.5 trillion dollar budget :cool:
 
Don't hold back ... tell us what you really think ... the whole USA tax process is fundamentally flawed anyways ... if average Americans were forced to pay 35% tax rates we would scream bloody murder (and the USA has some of the highest corporate taxes in the world) ... if you look at the distribution of federal revenues they get about 46% from income tax, 34% from payroll taxes (split between the workers and companies), 11% from corporate taxes, and 9% from other taxes and fees ... in addition the government borrows another 15% or so since they spend more than their tax revenues ... even with that about half the country pays no taxes at all

With such a large portion of our country's revenues dependent on workers we benefit from having large employers with a presence in the USA ... it is not advantageous to force companies to relocate completely due to excessive tax requirements ... a business also has a massive scaling effect on both local and global economies (they support travel industry revenues, telecom revenues, computer revenues, etc) ... the scaling with workers is more on the side of food, utilities, and services (and some manufacturing when we buy cars and electronics) ... everyone should be contributing to the economy (including the poor) and it wouldn't hurt the government to shave a few hundred billion off of their 3.5 trillion dollar budget :cool:


I pay 35% in taxes on combined 70k...
 
How?

You should be in the 25% bracket ($37,451 to $90,750) pretty much no matter what.

Wish I knew. Could be because some of that (~10%) is bonuses and therefore taxed like lottery winnings? I get back like $25 from the state (KY) and still end up owing a few bucks to federal. I wrote a $1.53 check to the IRS last year
 
Wish I knew. Could be because some of that (~10%) is bonuses and therefore taxed like lottery winnings? I get back like $25 from the state (KY) and still end up owing a few bucks to federal. I wrote a $1.53 check to the IRS last year

I make over 100K and my total withholdings are about 30% of my total check (that includes fed tax, FICA. and insurance) ... it will go up a little this year because of state taxes but many Americans pay substantially less
 
Don't hold back ... tell us what you really think ... the whole USA tax process is fundamentally flawed anyways ... if average Americans were forced to pay 35% tax rates we would scream bloody murder (and the USA has some of the highest corporate taxes in the world) ...
But what if like corporations, the average American only had to pay 35% on the amount that they keep after all expenses?
 
But what if like corporations, the average American only had to pay 35% on the amount that they keep after all expenses?

Both business and individuals have a "taxable income" which subtracts out certain items before their tax is calculated ... businesses have more deductions than an individual but they also have more exotic expenses as well ... and even individuals can greatly reduce their tax burden down to insignificant levels if they meet certain criteria (low income, high medical expenditures, large numbers of dependents, etc)
 
I just want to get into Mitt Romney mode and live off capital gains.

If you gotta pay taxes, no sense in being altruistic and not dodging bullets you can dodge legally.

;)
 
I just want to get into Mitt Romney mode and live off capital gains.

If you gotta pay taxes, no sense in being altruistic and not dodging bullets you can dodge legally.

;)

Mitt Romney
Hillary Clinton
Bernie Sanders


Jealousy is strong with this one
 
But what if like corporations, the average American only had to pay 35% on the amount that they keep after all expenses?
On shit that is the plan for the ages.. They can tax my -23000 I'm ending up this year? Yiiipeee I'm a corporation losing money I'm getting All my taxes back!.
 
This quote right here scares the hell out of me when I finally become an RN in 3 years.

You are not going to pay more taxes than someone making 20k taxable a year, for your first 20k taxable (for example).
That is how brackets work, you go up a bracket and you get taxed at that rate for the amount that is on top of the lower bracket, its not that your entire taxable salary gets taxed at the higher bracket, its just that portion and so on.

The issue with the the 70k at 35% may be unique to the poster though.
 
You are not going to pay more taxes than someone making 20k taxable a year, for your first 20k taxable (for example).
That is how brackets work, you go up a bracket and you get taxed at that rate for the amount that is on top of the lower bracket, its not that your entire taxable salary gets taxed at the higher bracket, its just that portion and so on.

The issue with the the 70k at 35% may be unique to the poster though.

Yes, thank you. The lack of understanding of tax brackets in this country is appalling. Our economic and political education here in the US is utter shit.
 
How could you say something like that? :eek: I'd never f-bomb and get all angry-face like that. I'm so upset you'd put me into such a grumpy-pants category! Hmph!

I kind of like how we can just say your name and you magically appear..As if you are constantly watching...
 
You do understand what you are saying right? You said that the U.S. Government should take 35% of money earned outside the United States. That would be like paying U.S. sales tax on beer in Beligum, just doesn't make sense.

Strangely enough, I agree with this tax shelter move that companies are doing. No matter how successful your business is, a 40% tax rate is criminal. Maybe the U.S. could drop that down a bit and see money flowing back into its coffers.
If that's what was happening, you would have a valid point. Except that's not how Apple and most other corporations do things. They find every loophole and trick they can to make every sale in USA or other countries look like it's coming in through Ireland, Bermuda, or someplace else with little or no tax rate. Don't be fooled, a lot of these taxes they're not paying are for sales they're making in USA. They just do a lot of creative accounting that so much of it appears elsewhere.

http://www.forbes.com/sites/leesheppard/2013/05/28/how-does-apple-avoid-taxes/
 
Yet another Anti-Apple, click-bait, inaccurate headline from our resident "journalist"

THE place to come for in-depth, unbiased tech reporting :rolleyes:
 
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