You are actually right. They pay corporate tax in USA on profits generated in USA.
What they really do is that they don't pay their rightful share in other countries such as Australia and UK where they transfer profits to Ireland through phony IP claims.
For example, their net profit margin in Australia was less than 2% in last financial year which means they paid only $40 million in tax on revenue of $6 billion.
All that profit which should have been taxed in Australia and in other countries now sits somewhere currently untaxed in Ireland.
Let's just take that as a given, but Apple's tax status in other countries is not why their CEO gets called to testify before the US Senate - my questions were specifically about that.
Not that we're going to get much further in this, though, given that the submission dropped off the front page and into the dark recesses of HN a few minutes ago.
Comments
You are actually right. They pay corporate tax in USA on profits generated in USA.
What they really do is that they don't pay their rightful share in other countries such as Australia and UK where they transfer profits to Ireland through phony IP claims.
For example, their net profit margin in Australia was less than 2% in last financial year which means they paid only $40 million in tax on revenue of $6 billion.
All that profit which should have been taxed in Australia and in other countries now sits somewhere currently untaxed in Ireland.
Let's just take that as a given, but Apple's tax status in other countries is not why their CEO gets called to testify before the US Senate - my questions were specifically about that.
Not that we're going to get much further in this, though, given that the submission dropped off the front page and into the dark recesses of HN a few minutes ago.