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Apple Is Moving Its Entire International iTunes Business To Ireland (billboard.com)

Posted by BeauHD on from the low-tax-haven dept.

Starting February 5th, Apple will be moving its entire international iTunes business from Luxembourg to its European headquarters in Cork, Ireland, according to a note sent to developers this week. The non-U.S. iTunes business consists of Apple Music and the individual stores for iTunes, iBooks and Apps. Internationally, iTunes is available in over 140 countries, while Apple Music is streaming in roughly 115 territories. Billboard reports: Apple announced its intentions to move its iTunes biz to Ireland in September when it transferred an estimated $9 billion of iTunes assets. At that time it also shuffled all existing developer contracts to Ireland-based Apple Distribution International. Like Luxembourg, Ireland is known for being a low-tax haven for international businesses. Last month, both Apple and Ireland announced they would appeal a record $14 billion tax bill from the European Commission, which earlier found it had been underpaying tax on profits across the European bloc from 2003 to 2014. Apple today is the biggest private employer in Cork, the Irish Republic's second-largest city, with a workforce exceeding 5,500. Economists estimate Apple's Cork operation pumps around $17 billion annually in salaries, tax and investment into the Irish economy.

6 of 114 comments (clear)

  1. So that's, what by rsilvergun · · Score: 4, Insightful

    Two guys and a duck? They're moving one tax dodge to another tax dodge. Probably to pressure Ireland to fight the EU off. They'll win out in the end, and the loser will be their taxpayers...

    --
    Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
    1. Re:So that's, what by Anonymous Coward · · Score: 3, Insightful

      Even fictional constructs I don't think get to consider the taxes paid by their employees, taxes paid by the corporation, -and- assets simply owned by the construct ("corporation") as an altruistic contribution to the country they do business in.

      $3,000,000 per employee? Your own calculation should tell you this is implausible.

      In any case, it doesn't matter. You're isolating the economic impact to specifically where Apple would like you to--Ireland. The reality is that the money "gained" by Ireland is money lost to the U.S., which still requires taxes for operations. Those taxes will then be borne by other corporations and individuals, which will result in, you guessed it, higher prices for other goods, paid by companies world-wide. Gaming the system to play one country against another does not result in a magical cost-free gain to the "winning" country, or to the public at large. It just benefits Apple, creating a race to the bottom among "bidders"--which ultimately means each country's taxpayers, who "bid" with or without their assent, backed by their government's force.

  2. Re:Trump's not gonna be happy... by ShanghaiBill · · Score: 4, Insightful

    I expect a Twitter storm within hours on this one. Something about taxes and jobs.

    These jobs are moving from Luxembourg to Ireland. Trump only cares about jobs moving out of America. An obvious remedy is to avoid creating jobs in America in the first place.

  3. Re: Trump's not gonna be happy... by Anonymous Coward · · Score: 2, Insightful

    Those are just blogs and tabloids.

  4. Re:Trump's not gonna be happy... by KeensMustard · · Score: 3, Insightful

    We specifically elected the least sexual predatory person between the two. Hillary is a straight up rapist enabler.

    Number of people Hillary has raped:0. Number of people Donald has raped: probably more than 1. Number of people Donald has molested, by his own admission: many.

    Trump maybe did a few less than savory things, but I don't see compelling evidence that he committed rape.

    So essentially, your evidence that he is not a molester/rapist is that you personally can't believe it. Well, that's powerful testimony indeed.

  5. Re:Trump's not gonna be happy... by gtall · · Score: 2, Insightful

    What makes you think Trump gives a flying rat's ass about what he can use to pressure companies? No ranking official in a country or company should ever have a conversation with el Presidente Tweety, he'll only twist it.

    The past is replete with examples. Two of them are when Clapper called him to explain no one in intelligence agencies leaked the Russian hacking probe. Trump turned that into Clapper agrees with Trump on is view that Russian hacking had nothing to do with the election. He had a public tiff with Mexico's president, realized he stepped on his own crank, gives him a call, and then announces they had a very happy and fruitful discussion. I note the Mexican president hasn't asked for new meeting, agreed to pay for Trump's Wall of Ego, or promised to renegotiate NAFTA.