Find a Question:
Miser pays twice as Apple could lose billions in fines 21
Analytics Courts and scandals |
Apple earns hundreds of billions of dollars annually. Part of these funds is spent on research and development (R & D), the other is spent on marketing and other purposes. Nevertheless, this does not prevent the corporation accumulate in their accounts a considerable sum of money – for example, the construction of the campus. As of August this year, the amount of available funds Apple exceeds $ 160 billion.
How do companies manage to avoid severe American taxation? A few years ago Apple has registered a subsidiary in Ireland for the purpose of withdrawing funds from their accounts without going through the payment of taxes in the United States. Instead, the “apple” corporation pays to the Government of Ireland symbolic income tax, which is about two percent. For comparison – in the United States it would have to deduct 35%.
This tax scheme, known as the “double Irish whiskey”, was uncovered by experts in the field of economics has long been. But more recently the European Commission is seriously interested in the agreements between Apple and the Government of Ireland. According to the publication Financial Times, the European Commission has found numerous irregularities in contracts awarded.
According to the regulator, through their machinations Apple hid nearly $ 140 billion in offshore zones – areas of special tax-free. Now the company faces the most serious trial in the history of its existence. According to analysts, the fine imposed by the European Commission for data breaches, will exceed 10 billion euros.
For Apple, it would be a serious blow – says managing partner iKS-Consulting Denis Ankipov. – Not so much financial as moral. From now on, regulators will constantly monitor cash flow (cash flow – approx. Eds.) Companies, complicating the withdrawal of its American assets.
Earlier in the USA Apple has been accused of tax evasion, which is why the court had to act very Tim Cook. Then the situation was hushed up, but now the company’s lawyers once again have to defend it against the attacks of European regulators.
Auditing of the accounts of western corporations – a perfectly normal practice. Earlier, the same procedures were subjected to Google and Microsoft, and we can not say that they have been painless for companies – says Margarita Gorsheneva, Director of Business Development QB Finance.
What kind of development will get a hearing, is still unknown. We will closely monitor the situation.Viewing:-190
Answer this Question
You must be Logged In to post an Answer.
Not a member yet? Sign Up Now »
Star Points Scale
Earn points for Asking and Answering Questions!