• Your favorite

    Apple

    ,

    iPhone

    ,

    iPad

    ,

    iOS

    ,
    Jailbreak
    , and
    Cydia
    site.
  • Apple Pays Just 2% in Taxes on Huge Foreign Revenue


    Based on the findings of a comprehensive review of Apple's most recent regulatory filing, Apple only paid a small amount in taxes on its huge overseas revenue for the 2012 fiscal year.

    Specifically, based on the numbers provided by Apple to the U.S. Securities and Exchange Commission, Apple paid only 1.9 percent in income taxes on the $36.8 billion in revenue the company earned overseas for the calendar year that ended in September.

    This foreign tax rate, as you might imagine, is dramatically less than the U.S. corporate tax rate of 35 percent. Simply put, this savvy tax technique is a popular approach used around the corporate world.

    Like other big companies, Apple leaves cash overseas. If it brought it home to the U.S., it would have to pay U.S. corporate taxes on the money.
    By the end of September, the total amount of cash that Apple retains overseas is a staggering $82.6 billion and climbing. That's up significantly just from the $74 billion it had overseas at the end of June.

    Source: Washington Post
    This article was originally published in forum thread: Apple Pays Just 2% in Taxes on Huge Foreign Revenue started by Michael Essany View original post
    Comments 22 Comments
    1. drigo1178's Avatar
      drigo1178 -
      Quote Originally Posted by LSxPwrdZ View Post
      I don't blame Apple at all for doing what they are doing to avoid paying as much tax's. If anybody else was in their situation you would take the avenue of less taxs as well. This is why we didn't need another 4years of Obama. There is currently incentive to have corporations manufacture overseas and not here in USA. Until that changes and we help our own and tax overseas more things will never change and jobs will continue to suck in USA.

      So with that said shame on all you idiots that voted Obama!

      really...?

      Obama
      • Removing tax deductions for shipping jobs overseas and introducing income tax credits for bringing back domestic jobs;
      • Making the current deduction for domestic production focused specifically on manufacturing activities and doubling the deduction for advanced manufacturing;
      • Providing a new credit for qualified investments that help finance projects in communities that have suffered major manufacturing job losses;
      • Extending tax credits to provide $20 billion of investment in domestic clean energy manufacturing;
      • Extending a provision that allows businesses to expense the full cost of their equipment purchases; and
      • Closing a loophole that allows companies to shift profits overseas from intangible property created in the U.S.


      Romney

      • Cutting redundancy in federal retraining programs by consolidating programs and funding streams, centering as much activity as possible in a single agency;
      • Granting states greater authority to manage retraining programs by block-granting federal funds;
      • Switching from unemployment insurance benefits to a system of personal reemployment accounts;
      • Promoting more private sector involvement in government retraining programs;
      • Raising the visa cap for highly skilled foreign-born workers; and
      • Providing permanent residency to eligible foreign graduates with advanced degrees in math, science and engineering.

      Source: Obama vs. Romney on Improving U.S. Manufacturing
    1. NewdestinyX's Avatar
      NewdestinyX -
      Quote Originally Posted by drigo1178 View Post
      really...?

      Obama
      • Removing tax deductions for shipping jobs overseas and introducing income tax credits for bringing back domestic jobs;
      • Making the current deduction for domestic production focused specifically on manufacturing activities and doubling the deduction for advanced manufacturing;
      • Providing a new credit for qualified investments that help finance projects in communities that have suffered major manufacturing job losses;
      • Extending tax credits to provide $20 billion of investment in domestic clean energy manufacturing;
      • Extending a provision that allows businesses to expense the full cost of their equipment purchases; and
      • Closing a loophole that allows companies to shift profits overseas from intangible property created in the U.S.


      Romney

      • Cutting redundancy in federal retraining programs by consolidating programs and funding streams, centering as much activity as possible in a single agency;
      • Granting states greater authority to manage retraining programs by block-granting federal funds;
      • Switching from unemployment insurance benefits to a system of personal reemployment accounts;
      • Promoting more private sector involvement in government retraining programs;
      • Raising the visa cap for highly skilled foreign-born workers; and
      • Providing permanent residency to eligible foreign graduates with advanced degrees in math, science and engineering.

      Source: Obama vs. Romney on Improving U.S. Manufacturing
      This election was so simple a 3rd grader could get it.

      "The Socialist versus the Capitalist"

      People wanted 'more stuff' - were promised more 'free stuff' by the Socialist - and he won! Simple...
      Next 4 years we go off the financial cliff like Greece and soon Spain... woohooooooo.. here we go.. !!!