Re:Apple surpasses Saudi Aramco to become the most valuable ...
by hlfy_hn on Friday July 31, 2020 @07:55PM
(#24015809)
"Between 2003 and 2014, the European Commission found, Apple had lowered its effective corporate tax rate from 1% to just 0.005%."
https://observer.com/2019/09/apple-ireland-tax-lawsuit-europ...
1. I don't know why I get downvoted
2. I would not say a corporate tax rate of 0.005% is high.
Re:Apple surpasses Saudi Aramco to become the most valuable ...
by ogre_codes on Friday July 31, 2020 @08:18PM
(#24015990)
Didn't down vote you, but you are quoting a biased source. Maybe Apple pays 0.005% in the EU, but since 2011, Apple's paid over $10b/ year every single year (and many years it's been higher).
This is on public record: https://www.macrotrends.net/stocks/charts/AAPL/apple/total-p...
> I would not say a corporate tax rate of 0.005% is high.
I'm not sure what that number comes from so I can't say, but since they paid $10b/ year for the past 9+ years, they'd have to have 2 trillion dollars in profit in a single year for that rate to be accurate.
For example: Between 2014 and 2017 Apple paid $35 billion in taxes.
While you can argue they should pay more in taxes, the fact is they pay vastly more than their peers. Amazon in particular is notoriously good at keeping their tax bills low.
I don't know what is fair in terms of taxes and I'm not suggesting Apple is a perfect tax citizen, but they do pay a good chunk of cash out to keep the White House lights on.