Apple: Paradise Papers got it all wrong, we are the 'largest taxpayer in the world'

Apple: Paradise Papers got it all wrong, we are the 'largest taxpayer in the world'
Every time President Trump says he might sit down for discussions with Russian officials or President Putin himself, there is a new leak on tax havens, it seems, shining a light on the perceived Russian connection in the US elections. 

It happened with the "Panama papers," and now with the "Paradise papers" just when the Trump administration mentioned he could meet with Putin on the sides of his Asia trip. US intelligence community conspiracy theories aside, there is a lot of collateral damage from releasing a treasure trove of links to tax havens, and one of these is none other than Apple.

Tucked in the millions of documents is Apple's parking of its enormous overseas cash holdings in Jersey, one of the largest Channel islands between England and France, which is, you guessed it, a tax haven for many companies. Needless to say, everyone does this, yet Apple felt obliged to respond to all the noise that stemmed from the Paradise Papers dump on Sunday with a longish press release, which can be summed up in the following entry statement:


These leaks usually leak to one big nothing in terms of political repercussions, but Apple is extremely sensitive to how the public looks at its business operations, and often comes out with rebuttals of perceived slurs of its image dragged through the media machine. Needless to say, these lead to another round of reporting frenzy, while the issue of tax havens remains, with nobody daring to touch it just yet.

source: Apple

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29 Comments

1. toukale

Posts: 669; Member since: Jun 10, 2015

When you are on top, everyone wants a piece of you. People are going to get even madder next quarter because Apple is predicted to have the most profits ever recorded, breaking their own record from 3 years ago.

4. Peacetoall unregistered

People will surely get mad if apple don't pay the taxes

6. toukale

Posts: 669; Member since: Jun 10, 2015

Don’t blame the players, blame the game.

7. Peacetoall unregistered

When you buy from crooked you become the crooks too.

8. notfair

Posts: 767; Member since: Jan 30, 2017

so cheating is ok right? but the rest of 99.99% honest people that are paying taxes all over the world are stupid because they didn't join the game?

12. toukale

Posts: 669; Member since: Jun 10, 2015

@notfair - What are you on? Just because Apple is not your favorite company du jour does not mean you need to lie about them. Every multinational corporations takes advantage of those rules but somehow every article chooses to focus on Apple I wonder why? The way you are talking, you must not deducts everything that you are legally able to deduct. I know every year, I meet with my accountant and we go over every items I am able to deduct, so cry me a river.

14. mootu

Posts: 1541; Member since: Mar 16, 2017

So Apple doe not owe Ireland 13 billion euro's ?.

21. RebelwithoutaClue unregistered

Not every big multinational does it. I know Toyota conglomerate doesn't do it and there are others. But you are right most big multinationals do it, but that doesn't make it right. And Apple is always frontpage news, be it positive or negative. They made it that way so they can't whine about it. Also Apple is the only one getting sued to pay Ireland 13 billion because of extended deals that other companies didn't make. So yes Apple is worse than the others, especially since they are hiding behind the law and claim they pay all the taxes they are obliged to pay

25. uncle_gadget

Posts: 1050; Member since: Sep 20, 2017

Which other OEM's have been hit on for tax evasion? You are right, many corps hide money to preven tpaying taxes. But Apple is the biggest offender, thus the more attention to it. Apple is the one cutting deals with gov't to pay less taxes. Those deals have turned up to be shady. https://www.forbes.com/sites/kellyphillipserb/2016/08/30/apple-found-to-have-received-illegal-tax-benefits-ordered-to-pay-14-5-billion-in-back-taxes/#caafbe575481 https://www.democracynow.org/2017/11/6/part_2_paradise_papers_reveal_tax - This article points to "NIKE" a;sp being an offender. No surprise here. I stopped buying their brand years ago. https://www.macrumors.com/2016/09/26/apple-european-commissions-lobbying/ You;re defending a company that has the money to pay, and doesn't want to pay. What kind of fool are you. Yes I agree with you 100% that yes all corporations take advantage of loopholes in the tax code, which basically rewards them for this behavior. But because of this, the US Treasury gets less money. Which add burden on everyone who doesn't have money. This leads to cuts in programs for people who struggle and thus creates more burden. And yes they keep finding ways to give rich corps even more benefits? If they don't want to pay, they shouldn't get. The IRS better not ever come knock at my door. The minute they ever do, fool who does is gonna get punched in his face. I have nothing in my name they can take.

16. admin_user

Posts: 33; Member since: Sep 26, 2017

You know that the "players" make the game? Why do you think that Washington or Bruxelles are full of lobbyists and especially in the U.S. politics is corrupt by money? Why do you think that staff of all those consulting companies switch all the time to public institutions and the other way around?

24. uncle_gadget

Posts: 1050; Member since: Sep 20, 2017

What people? - Batman (Michael Keaton) You people! - Robert Downy Jr No one cares actually. If the uS Gov't cared, they would simply tell Apple, you have $250B+ in cash. If you want to sell product in the USA, this is the amount of tax you need to pay now and give them a number. If they don't pay, then you use the ITC to ban their products from being sold, and you have the FCC prevent certification of the devices for use in the uSA. Then they won;t have any choice to pay. The reason it doesn't get pushed because Apple lobbies for Republicans and they want the campaign dollars. Rich people don't pay enough, poor people pay to much. That's why I will never file another tax return for as long as I live.

2. Peacetoall unregistered

Apple avoided over $250 billion in taxes

9. rantao333

Posts: 346; Member since: May 21, 2013

apple should use that money to buy over whole samsung electronic, which cost them around $250bliion

10. Peacetoall unregistered

Samsung electronic total worth is more than 700 billion dollars

15. rantao333

Posts: 346; Member since: May 21, 2013

may i know how did you come up with that number? according to forbes, Samsung electornic only worth around 250 billion. and if u count in 15 affiliates of samsung group, they worth around 476 billion as of NOV17. which is far from 700billion

26. uncle_gadget

Posts: 1050; Member since: Sep 20, 2017

That isn't even enough money to buy Samsung. Foolish one!

3. Peacetoall unregistered

In 2013, Apple had $111 billion in cash almost entirely held by its Irish shadow companies. By 2017, Apple’s cash mountain grew to $252 billion, now mostly sitting and growing in Jersey. In contrast, the United States in 2017 has $124 billion in foreign currency reserves, less than half of Apple’s.

5. Jacksie66 unregistered

And our spineless government here in Ireland won't pursue Apple. We're afraid Tim Cook will pull out of here. And we have the EU threatening to take us to court. An absolute clusterfűck..

11. RoboticEngi

Posts: 1251; Member since: Dec 03, 2014

Of course. It is never apple's fault. They are perfect.......

13. toukale

Posts: 669; Member since: Jun 10, 2015

I was wondering why all those articles now? And I remember, "oh yeah" its election day in a lot of places in the US. Those things are so predictable nowadays its no longer funny.

19. cmdacos

Posts: 4334; Member since: Nov 01, 2016

Because the Paradise papers leaked. Try to keep up

27. uncle_gadget

Posts: 1050; Member since: Sep 20, 2017

Of all people, Donald Trump blasted Apple for not paying their fair amount of taxes, while he was only running. Trump is tax dodger too. But he is not as bad as Apple, because of lessmoney. They all do it. But not paying over $250B in taxes over the years is a complete travesty. The Feds can fix the problem, the only way it will get fixed: 1 - Eliminate one party Supreme Court. If there are 12 Judges then 3 each shoudl represent out country. 4 Republican, 4 Democrats and 4 who are independant of either. 2 - Force term limits on Congressmen and Senate members just like Mayors, Governors and Presidents have term limits. 3 - Don't do taxes with a shady 3rd party company. The IRS is not owned by the US Gov't, which is an issue withon itself. 4 - Con[aies who don't pay, should have any all products banned from sale in the USA until they pay. If you don't pay taxes, they will take whatever you own away. Corps need ot be handled the same. Don't wanna pay we secure any an all property, we paced holds on bank account and also credit freeze so you can't borrow money either. The fact you are siding with a corporation that does nothign for you, shows you are a complete idiot. All corporations are evil. Some are just worse than others. Because politicians are corporate puppets, is why Apple, Nike, Microsoft and others get away with such things. You must be a Republican! Sucks to be you!

17. SIGPRO

Posts: 2817; Member since: Oct 03, 2012

Apple you lie! Everyone knows that you only pay 1% tax over all the income! They do it via Ireland with a special construction! So STFU Apple, you are one of the biggest cheaters around!

18. TerryD

Posts: 560; Member since: May 09, 2017

we are the 'largest taxpayer in the world' Yes. You are the largest company in the world and you pay tax. Therefore you are the largest taxpayer in the world. Are you also the company that pays the largest amount of tax? Because that's different.

28. uncle_gadget

Posts: 1050; Member since: Sep 20, 2017

Exactly!

22. uncle_gadget

Posts: 1050; Member since: Sep 20, 2017

"We are the largest taxpayers in the world". But we don;t pay all of the taxes we should, which is why we hide our money offshore.

23. RebelwithoutaClue unregistered

It is typical to see an article defending Apple and only highlighting Apples stance on the matter. When everyone knows big companies like Apple do anything 'legally' possible to avoid taxes up to a point its unethical

29. hamaidx

Posts: 99; Member since: Apr 28, 2015

Is that statement even correct.. Can there be a "Largest Tax Payer"??

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