Saturday, October 25, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Google's Pichai to Become Head of Product at Google: report
Internet Explorer 11 Toolkit Allows Enterprise Admins "Spy" On Their Employees
FCC Says Airwave Auction To Delay Until 2016
HP Broadens Moonshot Portfolio With Intel-powered Models
Microsoft To Keep Nokia Brand For Low-end Smartphones
LG Introduces Its First Octa-Core Application Processor
Cloud and Surface 3 Drive Microsoft's Revenue
Micron Urges Investors To Reject TRC Capital's Unsolicited Tender Offer
Active Discussions
Copied dvd's say blank in computer only
How to generate lots of different CDs quickly
Yamaha CRW-F1UX
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
 Home > News > General Computing > Apple S...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, March 06, 2014
Apple Said To Offshore Billions To Ireland To Avoid Australia Tax


US tech giant Apple has shifted an billions in untaxed profits from its Australian operations to a tax haven structure in Ireland in the last decade, an investigation by The Australian Financial Review has found.

The Australian paper has obtained 10 years worth of financial accounts for Apple Sales International, the "secretive" Irish company at the heart of Apple's international tax arrangements, which reveal the mark-up Apple charges for intellectual property on its products around the world.

The newspaper said the US tech giant moved an estimated Aus$8.9 billion (US$8.1 billion) in untaxed profits from Australia to Ireland, paying just 0.7 percent of its turnover in tax.

From 2010 Apple began re­routing its sales to Australia from Apple Sales International via a new Singapore subsidiary, Apple South Asia Pte Ltd, the paper added.

Financial Review added that last year Apple reported pretax earnings in Australia of only $88.5 million after it sent an estimated $2 billion of income from its Australian sales to Ireland via Singapore.

Apple Sales International has reported more than $US100 billion ($112 billion) of profits in the last five years. Its accounts show it has paid less than 50? in tax on every $1000 of income.

Apple Sales International and its parent, Apple Operations International, pay no tax in Ireland, according to Irish law, because they are managed and controlled in California. They pay no US tax either because US law disregards where a company is managed and only looks at where a company is legally registered.

Apple in Australia has not provided any comment.




Previous
Next
GIGABYTE Presents 2011 Socket Board With Integrated 10 Gigabit Ethernet        All News        DirectX 12 Unveiling Set For This Month
Fujitsu Field Trial Records 400 Gbps and 800 Gbps Networking Speed     General Computing News      Mozilla Introduces The mozjpeg Encoder

Get RSS feed Easy Print E-Mail this Message

Related News
GT Advanced Technologies Reaches Settlement Agreement With Apple
Bonhams Sells Apple Computer For 905K USD
BofA Double-Charged Apple Pay Customers
Apple To Stop SSL 3.0 Support For Push Notifications
Strong iPhone, Mac And App Store Sales Drive Apple's Record September Quarter Revenue And Earnings
Apple iOS 8.1 Available For Download
Apple Introduces New iPad Air 2, iPad mini 3 And iMac with Retina 5K Display
New iPads Leaked Ahead Of Official Launch Event
New iPhones Arrive in 36 More Countries This Month
GT To Stop Production In Sapphire Plant, Accuses Apple Of 'Oppressive" Contract Terms
Apple and Google Each worth more than USD $100
Icahn Urges Apple To Start Buying Back More Stock

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .