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They reveal how Apple sidestepped a 2013 crackdown on its controversial Irish tax practices by actively shopping around for a tax haven.
It then moved the firm holding most of its untaxed offshore cash, now $252bn, to the Channel Island of Jersey.
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Instead of paying Irish corporation tax of 12.5%, or the US rate of 35%, Apple's avoidance structure helped it reduce its tax rate on profits outside of the US to the extent that its foreign tax payments rarely amounted to more than 5% of its foreign profits, and in some years dipped below 2%.
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The European Commission calculated the rate of tax for one of Apple's Irish companies for one year had been just 0.005%.
Am sick of people telling you need to lower corporate taxes, Infact, i'd argue they need to be highest - just enough so CEO's don't run away with fat paychecks and devise schemes to avoid taxes when the middle class folks don't have the same avenue. where is the level playing field?
Am sick of people telling you need to lower corporate taxes, Infact, i'd argue they need to be highest - just enough so CEO's don't run away with fat paychecks and devise schemes to avoid taxes when the middle class folks don't have the same avenue. where is the level playing field?
So, your argument to raise taxes is that corporations will do things, like move, to save on taxes?
Am sick of people telling you need to lower corporate taxes, Infact, i'd argue they need to be highest - just enough so CEO's don't run away with fat paychecks and devise schemes to avoid taxes when the middle class folks don't have the same avenue. where is the level playing field?
1. our corporate taxes (actual rate) is one of the highest
2. our government grants exceptions for taxes paid elsewhere, kinda like the reduction you get for your property taxes if you itemize
3. the answer is not raising taxes, ...we should lower them, but remove some of the brakes that corps get, but not the reduction for taxes paid else where
btw CEO's who get big pay...pay big in personal taxes....a persons (like a ceo) personal tax, has nothing to do with corporate taxes...two different entities, and two different pots of money
btw CEO's who get big pay...pay big in personal taxes....a persons (like a ceo) personal tax, has nothing to do with corporate taxes...two different entities, and two different pots of money
who said anything about personal tax? Am saying that due to tax fraud, the bottomline appears larger and this allows CEOs to take greater share.
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Originally Posted by PedroMartinez
So, your argument to raise taxes is that corporations will do things, like move, to save on taxes?
Tax them at the same rate if they make money within the country or offshore. plain and simple just like as individuals we do.
Corporate taxes are a fraud. They are a hidden tax with overhead.
We need taxes, but let's get rid of all the hidden taxes and all the crazy schemes.
I'd prefer a sales tax based solution; however, if we have an income tax, let's just do a straight percentage where everyone has a stake in the game and the more you make the more you pay. I'd assume it would be between 15% and 20%.
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