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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.

3 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...

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    1. Re:So that's, what by El+Cubano · · Score: 4, Interesting

      They'll win out in the end, and the loser will be their taxpayers...

      From the summary:

      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.

      $17,000,000 annually divided by 5,500 employees is over $3,000,000 per employee per annum of economic impact. If that's what it means to be a loser, then please sign me up! I'll talk to my city council and I am relatively certain I can get them on board.

  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.