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Tim Cook Calls Apple's Tax Questions 'Political Crap' (cbsnews.com)
nerdyalien writes: Apple CEO Tim Cook dismissed as "total political crap" the notion that the tech giant was avoiding taxes. Cook's remarks, made on CBS' 60 Minutes show, come amid a debate in the United States over corporations avoiding taxes through techniques such as so-called inversion deals, where a company redomiciles its tax base to another country. Apple holds $181.1 billion in offshore profits, more than any other U.S. company, and would owe an estimated $59.2 billion in taxes if it tried to bring the money back to the U.S., a recent study based on SEC filings showed. The current tax code was made for the industrial age, and not the "digital age," Cook said.
I suggest Apple sue the arse off of Have I Got News For You (a BBC TV comedy program, that focuses on political humour, and isn't afraid to take the piss out of current news articles, politicians, and even invites them on to stand their ground - one of the regular guests is Ian Hislop, editor of Private Eye, who's been sued multiple times for defamation and libel and very rarely loses... the magazine itself is the origin of the Arkell v. Pressdram case (Google it!)).
Only last week, the implication that Apple was avoiding tax was made on the show (joking that the bite out of the Apple logo was "the bit where the tax should be"), laughed at, and broadcast. Strange, then, that Apple haven't made a fuss or a statement about that, isn't it?
It's easy to make a lot of money if you don't pay the proper taxes. Until the laws changes and it catches up with you. A few companies in the EU are finding that out at the moment. Luxembourg looks likely to no longer be the EU tax haven it once was.
It would be nice if corporations actually paid tax in the country where they actually earned the money. Apple, like other giant corporates, earns billions in Australia and pays bugger all tax, carefully moving the "profit" to other low tax countries.
If the richest company in the world paid its taxes like good citizen, as I do, the world would be a better place.
Someone once said "I lik paying taxes. With taxes I buy - civilisation".
Well, if you want civilisation - pay your taxes!
"Cats like plain crisps"