Lensfire: November 2017

Panasonic launched Eluga I5 budget smartphone

6:07 PM
0 Comments

Google's new Android file manager: Files Go

10:06 PM
0 Comments

Apple escaped paying Tens of Billion of dollars in taxes

According to Paradise Papers documents, Apple was reluctant to pay tens of billions of dollars in taxes to transfer its earnings to Jersey, a small island country linked to the United Kingdom.

In 2013, the US Senate conducted a thorough review of the taxes that Apple paid on its earnings but it turned out that Apple was reluctant to pay tens of billions of dollars in taxes by transferring income to Irish companies called "ghost companies ." Apple's CEO Tim Cook said in a statement, he made on that day, "We pay the tax for every dollar. Taxes do not do the trick. '' And '' We do not store money in the Caribbean islands. '' According to Paradise Papers, which deals with the world's wealthiest people and their companies' tax haven, He chose Jersey, a small island in the United Kingdom.

Apple, by the way, called '' Double Irish '', which benefited from a legal void in the US until 2014. Instead of repaying corporate taxes at 35 % in the US , it paid in Ireland, 12.5 per cent of corporate taxes and had a very serious cash infusion.

Following the investigations conducted by the European Union and the US Congress in 2013, the Irish government announced that companies established in the country will not escape tax. Thus, Apple will not be able to operate its operations in Ireland like the old and will have to pay tens of billions of dollars in taxes. According to Paradise Papers, this is exactly what Apple has done to discover other things that can save taxpayer money and it began negotiating with lawyer Appleby , an expert in finding out offshore areas .

Investigated Other Tax Paradise

Investigating other territories called the tax haven for the Irish company to save its tax liability, Apple wanted to keep the tax administration it had until 2013 by moving the company to a different location only . Asked by Apple's legal counsel, Appleby's question of what different offshore areas such as the British Virgin Islands, Bermuda, Cayman Islands, Mauritius, Jersey, and Guernsey could offer to Apple by sending a poll (based on the survey of the Paradise Papers leak) . Among the questions, the possibility of obtaining a formal exemption guarantee on taxation, whether or not it will be able to carry out administrative affairs without taxation, the possibility of a government change in the near future, questions such as how easy it would be to get out of the judiciary, as well as questions aimed at escaping the tax system.

According to the Paradise Papers leak, Apple added that all these questions, as well as the conversations with Appleby and the company's movements were kept secret. At the end of all negotiations, Apple chose the Jersey island of the United Kingdom, which created its tax laws and had a corporate tax rate of 0% for foreign companies. According to Paradise Papers documents, Apple's two largest Irish affiliates, (Apple Operations International (AOI) and Apple Sales International - ASI) , have been managed by the Appleby office in Jersey since the end of 2016. In addition, AOI's; Apple is also believed to have held $252 billion of cash assets outside the US territory.

What can Apple buy for $ 252 billion in cash?

Apple Appeals Denied

If Apple makes statement on allegations of tax evasion '' We believe that it is obliged to each company's taxes paid and what we do to the countries and communities are proud of the economic contribution. '' In a statement he gave expression to the place in the world as the largest taxpayer in the last 3 years, $35 billion corporation explained that he was paying taxes . In the current international tax system, the company is taxed in the region where the gain or value is generated. Design, development, engineering and many other things done in the United States, so the United States is the country, where most tax should be shared.

Tax evasion allegations denied by the company İrlanda vergi laws that they decided to change the residence of the Irish subsidiaries and is changed in 2015 and the decision of the Irish, they share with the United States and the European Commission also noted and 'change we made was to reduce the pay taxes in any country.'He said.