Featured Articles

LG G Watch R ships in two weeks

LG G Watch R ships in two weeks

The LG G Watch R, the first Android Wear watch with a truly round face, is coming soon and judging by…

More...
LG unveils NUCLUN big.LITTLE SoC

LG unveils NUCLUN big.LITTLE SoC

LG has officially announced its first smartphone SoC, the NUCLUN, formerly known as the Odin.

More...
Microsoft moves 2.4 million Xbox Ones

Microsoft moves 2.4 million Xbox Ones

Microsoft has announced that it move 2.4 million consoles in fiscal year 2015 Q1. The announcement came with the latest financial…

More...
Gainward GTX 970 Phantom previewed

Gainward GTX 970 Phantom previewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
EVGA GTX 970 SC ACX 2.0 reviewed

EVGA GTX 970 SC ACX 2.0 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Monday, 30 April 2012 10:52

Apple is a tax dodger

Written by Nick Farrell



Has a shell office in Nevada


Fruity outfit Apple has decided that its massive profits should not go to help the US better itself in any way.

Apparently Jobs' Mob is running tax scam to avoid billions of corporate tax by having a small office in Nevada.  Such a deal is so dodgy that even the New York Times, which normally acts as Apple's spokesman is outraged. It showed a snap of the tiny office in Reno which it points out does nothing and yet seems to have the job of collecting and invest the company’s profits. California’s corporate tax rate is 8.84 percent. Nevada’s is zero.

Apple has also created subsidiaries in low-tax places like Ireland, the Netherlands, Luxembourg and the British Virgin Islands to help cut the taxes it pays around the world. This means that while Apple could earn up to $45.6 billion in its current fiscal year it will all go into a big cash pile and will not help America's cash strapped social services. Meanwhile California faces a budget crisis, with a shortfall of more than $9.2 billion in the coming fiscal year alone.  Rather than tax Jobs Mob the state has cut some health care programs, significantly raised tuition at state universities, cut services to the disabled and proposed a $4.8 billion reduction in spending on kindergarten and other grades.

Apple told the New York Times off the record that it was unfair to criticize the company for reducing its tax bill when thousands of other companies acted similarly. If Apple volunteered to pay more in taxes, it would put itself at a competitive disadvantage, they argued, and do a disservice to its shareholders.

More here.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments