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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...
11-05-2012, 03:19 PM #1
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.
Source: Washington Post
11-05-2012, 04:07 PM #2
i really dont see the point of this? most if not all internationally operating companies do this.
If apple made all that money in the US and didnt pay taxes on it (which is not mentioned in your story and IMO would have made stronger argument) then this would be a completely different story.
11-05-2012, 04:09 PM #3
11-05-2012, 04:11 PM #4
11-05-2012, 04:12 PM #5
11-05-2012, 04:23 PM #6
I guarantee you that if our corporate tax was as little as 1.9% for Apple then they would bring all that money back here. If Apple wants to keep their money over seas then that's fine. It's "their" money.
11-05-2012, 07:47 PM #7
It's stupidity by the US government. Why would apple or any large company want to pay the ridiculous taxes. They have enough money to just take their ball and play somewhere else and it's at the expense of the US. 10% of all those billions is better than none.
11-05-2012, 08:53 PM #8
Wow. This is appalling to be quite honest.
What's worse, is that if this was Samsung people would be here ******** and point fingers and calling them Samsuck and everything else - or talking about patent lawsuits.. This is worse than anything Samsung has done. This is playing the system, and clearly evident of business practices at Apple, though not surprising.
11-05-2012, 10:12 PM #9
The US has one of the highest corporate tax rates in the developed world. This is why this happens. Unfortunately, Obama thinks corporations are the devil - which is odd since they donate a lot to him and he's never worked for one.
11-06-2012, 04:24 AM #10
11-06-2012, 06:57 AM #11
Why should Apple pay taxes on income earned in another country? I'm sure they are paying taxes in that country already. Apple isn't a "US company." They are an international company employing thousands of people outside the US borders. I'm all pro-USA, but nothing entitles the USA to collect revenue on something just because they have some ties to the USA. An iPhone assembled in China, shipped to and sold in Europe shouldn't owe any taxes on that particular phone to the USA.
11-06-2012, 07:38 AM #12
Avoiding paying taxes in your own country..hmm. Right now it is a negative for Romney. Why not a negative for large businesses? Loopholes are usually created by the less fortunate. In this case countries that need $$ and jobs. Rich people, countries and business all take advantage of this fact. "Made in America"?? Since when? We pretty much outsource everything except oxygen..just saying :]
11-06-2012, 08:17 AM #13
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Last edited by alanjf; 11-06-2012 at 08:27 PM.
11-07-2012, 12:49 AM #19
oh ad FYI - working and earning in multiple states with different states taxes, also makes you file separate state taxes...just thought you should know. just so you could wrap your brain around the thought of it.
Last edited by drigo1178; 11-07-2012 at 12:54 AM.
11-08-2012, 07:30 AM #20
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!