All items tagged with "Cork"

Ireland plans to close tax loophole that helped Apple save billions

Photo: The Dark Knight

Photo: The Dark Knight

Ireland will apparently announce plans to phase out its “Double Irish” tax arrangement that has allowed companies like Apple and Google to save billions, according to a Reuters report citing sources familiar with the matter.

Over the past 18 months, the country has been criticized by both the United States and Europe for tax loopholes that let companies slash their overseas tax rate to single digits. Preliminary findings by the European Commission recently slammed a “sweetheart” tax deal on the part of Ireland that allowed Apple to avoid paying taxes by building up a massive offshore cash pile of $137.7 billion in the country.

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Apple Accused Of Avoiding Taxes In U.K.

Apple Accused Of Avoiding Taxes In U.K.

Apple's headquarters in Cork, Ireland. Nowhere near as pretty as its Cupertino campus.

Apple has been accused of avoiding paying a proper amount of taxes in the U.K. after making an incredible £6 billion in the last financial year, but paying only £10 million in tax. The Cupertino company runs what is described as a “significant operation” in Cork, Ireland, where tax rates are almost half those paid in the U.K.

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