Apple CEO Tim Cook and CFO Peter Oppenheimer are in Washington D.C. this morning to talk to a Senate subcommittee about Apple’s off-shore cash hoard. The Apple execs are expected to face a lot of heat surrounding Apple’s Irish subsidiary, through which Apple has funneled 64% of its earnings without paying any tax, yet has zero employees.
Before the hearing got underway though, Ireland’s deputy prime minister, Eamon Gilmore, issued a public statement which claimed Ireland isn’t to blame for Apple’s low tax bill, even though the country has become a tax haven for multinationals since the 1960s.
As part of expert testimony at today’s Senate Sub-Committee Hearing to Examine Offshore Profit Shifting and Tax Avoidance by Apple Inc., Professor J. Richard Harvey has made a compelling case that the tax system Apple is taking advantage of needs to have its loopholes closed.
Harvey — a distinguished Professor of Practice at Villanova University’s School of Law — says that while what Apple has done is acceptable under current International tax law, it still widely uses tax tricks and gimmicks to avoid paying what it fully owes.
iOS 6’s Maps is the biggest criticism of Apple’s new mobile operating system. In short, it’s clearly years behind Google Maps, which previously powered Maps in past versions of iOS. Most of the time, complaints about Apple’s new Maps accuse the latter of being under-developed and unreliable compared to Google Maps, but the Irish government has a different concern: they are worried that iOS 6 Maps will result in pilots crashing their airplanes directly into a park.
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.
Although we Yanks and select Euros already have iPhone 4Ses in our pockets, the iPhone 4S launch is hardly over. Far from it.
Today, Apple started selling the iPhone 4S in twenty-two other countries. Those countries are: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, Hungary, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Mexico, Netherlands, Norway, Singapore, Slovakia, Slovenia, Spain, Sweden and Switzerland.
Any Liechtensteiners care to report on how the lines are looking over there?