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Apple's likely going to get an $8B+ tax bill
Posted by: sekker
Date: July 29, 2016 10:22AM
And that's just for the Irish shenanigan Jobs set up.

More to come from other EU states - which will be at least another $1B.

[9to5mac.com]

Wonder whether this will hammer Google and others with the same Irish corporate deal?

This bill would be about 3x the size of the largest acquisition by Apple, beats audio.

(Please keep this focused on the business discussion - happy to do a separate issue on the politics on the other side if you want to).
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: Bill in NC
Date: July 29, 2016 10:36AM
realistically they'll negotiate a payment that is a small fraction of their bill.
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: bfd
Date: July 29, 2016 10:38AM
Facebook's getting slammed too - for about $5B - they're getting popped by the IRS…

[money.cnn.com]
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: bruceko
Date: July 29, 2016 10:45AM
Microsoft has the same arrangement. I think many companies do
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: max
Date: July 29, 2016 11:52AM
Quote
sekker
And that's just for the Irish shenanigan Jobs set up.

More to come from other EU states - which will be at least another $1B.

[9to5mac.com]

Wonder whether this will hammer Google and others with the same Irish corporate deal?

This bill would be about 3x the size of the largest acquisition by Apple, beats audio.

There is no "bill".
It is all a theory.
As Bill in NC noted, if there was an IRS charge it would be settled for a small fraction of what is discussed, in reality some sort of political deal will be struck eventually....
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: Article Accelerator
Date: July 29, 2016 11:52AM
Quote
bruceko
Microsoft has the same arrangement. I think many companies do

Yep. I don't think this will be the easy tax grab governments expect it to be…
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: jdc
Date: July 29, 2016 11:52AM
pfft







Edited 999 time(s). Last edit at 12:08PM by jdc.
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: billb
Date: July 29, 2016 11:58AM
dreaming that anyone is gonna pay taxes they didn't owe at the time is like changing the speed limit to 55MPH and fining everyone with a global warming tax who travelled at the legal limit of 65 for the last ten years.



The Phorum Wall keeps us safe from illegal characters and words
The doorstep to the temple of wisdom is the knowledge of one's own ignorance. -Benjamin Franklin
BOYCOTT YOPLAIT [www.noyoplait.com]
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: N-OS X-tasy!
Date: July 29, 2016 11:58AM
I initially read that as an $88 tax bill - well within their affordability...

...as is $9 billion. As jdc indicates, that is chump change for AAPL.



It is what it is.
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: silvarios
Date: July 29, 2016 12:46PM
Quote
Article Accelerator
Quote
bruceko
Microsoft has the same arrangement. I think many companies do

Yep. I don't think this will be the easy tax grab governments expect it to be…

Tax grab. As noted repeatedly, Apple, amongst many companies, intentionally fake move their assets to Ireland as one part of a tax shelter. If you think Apple and Google have significant assets in Google, I want some of that herb to smoke...
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: silvarios
Date: July 29, 2016 12:47PM
Quote
billb
dreaming that anyone is gonna pay taxes they didn't owe at the time is like changing the speed limit to 55MPH and fining everyone with a global warming tax who travelled at the legal limit of 65 for the last ten years.

When you, I, and all the other plebians in these countries have a tax shelter set up in Ireland and Bermuda, I will be convinced this is normal tax strategy.



Edited 2 time(s). Last edit at 07/29/2016 12:49PM by silvarios.
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: cbelt3
Date: July 29, 2016 01:43PM
silvarios-

If you had the assets large enough, you'd follow the law and shelter them too.
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: silvarios
Date: July 29, 2016 01:51PM
Quote
cbelt3
silvarios-

If you had the assets large enough, you'd follow the law and shelter them too.

No I wouldn't. I often don't take dubious tax deductions now. Clearly, people here don't know me at all. That's alright.
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: cbelt3
Date: July 29, 2016 01:57PM
silvarios-
fair enough.
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: Article Accelerator
Date: July 29, 2016 02:09PM
Quote
silvarios
Quote
cbelt3
silvarios-

If you had the assets large enough, you'd follow the law and shelter them too.

No I wouldn't. I often don't take dubious tax deductions now.

Perhaps this will help:

[www.forbes.com]
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: max
Date: July 29, 2016 04:17PM
Quote
silvarios
Quote
cbelt3
silvarios-

If you had the assets large enough, you'd follow the law and shelter them too.

No I wouldn't. I often don't take dubious tax deductions now. Clearly, people here don't know me at all. That's alright.
You do not have foreign sales that they have, so your indignation here is irrelevant.
There is nothing dubious in what they did. It is perfectly legal. They are not avoiding taxes from domestic US sales, are they?...
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: sekker
Date: July 29, 2016 08:18PM
More on why the $8B bill is likely to be real.

[9to5mac.com]
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: Drew
Date: July 29, 2016 11:18PM
It seems that Ireland is the one in trouble with the EU and should be punished for unfair practices. Apple and others did nothing illegal, so why should they be punished for what has been done in the past?
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: Paul F.
Date: July 29, 2016 11:23PM
Quote
Drew
It seems that Ireland is the one in trouble with the EU and should be punished for unfair practices. Apple and others did nothing illegal, so why should they be punished for what has been done in the past?

The modern narrative is that they should be punished heavily because they are a big evil corporation, regardless of whether they did anything illegal.



Paul F.
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A sword never kills anybody; it is a tool in the killer's hand. - Lucius Annaeus Seneca c. 5 BC - 65 AD
----
Good is the enemy of Excellent. Talent is not necessary for Excellence.
Persistence is necessary for Excellence. And Persistence is a Decision.

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Eureka, CA
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Re: Apple's likely going to get an $8B+ tax bill
Posted by: max
Date: July 30, 2016 01:58AM
Quote
Paul F.
Quote
Drew
It seems that Ireland is the one in trouble with the EU and should be punished for unfair practices. Apple and others did nothing illegal, so why should they be punished for what has been done in the past?

The modern narrative is that they should be punished heavily because they are a big evil corporation, regardless of whether they did anything illegal.


,,,,and they have buckoos of money the Brussel bureaucrats need to pay their overblown salaries.....
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