Nobel economist calls Apple’s tax arrangement ‘fraud’

By

There's still a lot of money left in iOS devices.
Apple holds $216 billion out of its $232 billion fortune overseas.
Photo: Ste Smith/Cult of Mac

Apple’s decision to hold $216 billion out of its total $232 billion fortune overseas amounts to a “fraud,” claims Nobel economist Joseph Stiglitz.

Stiglitz, who is advising Hillary Clinton’s presidential campaign, said that there is something “obviously deficient” about U.S. tax laws which make this a possibility — and singled Apple out as one such beneficiary.

Even moving Apple’s cash pile home won’t halt E.U. tax investigation

By

There's still a lot of money left in iOS devices.
Apple can't do anything in the face of E.U. investigation.
Photo: Ste Smith/Cult of Mac

Even bringing Apple’s sizable cash pile back to the U.S. wouldn’t stop the E.U. from investigating the company’s Irish tax arrangements, claims E.U. competition commissioner Margrethe Vestager.

“Whether or not Apple wants to repatriate part of their un-repatriated profits is purely up to Apple and is of no concern [to] our case work,” she told reporters after a recent meeting in the U.S. with the Obama administration.

Apple says it ‘pays every cent’ it owes in E.U. tax

By

Apple raked in the cash last quarter.
Apple claims it doesn't receive favorable tax deals in Ireland.
Photo: Jim Merithew/Cult of Mac

Apple has spoken up about the European Union investigation into its Irish tax affairs, telling a panel of E.U. investigators that it pays “every cent of tax” it owes in the country, and that it gets no advantage whatsoever compared with other companies.

Apple will defend its tax deals against E.U. this week

By

There's still a lot of money left in iOS devices.
Apple's tax investigations are continuing.
Photo: Ste Smith/Cult of Mac

Apple will join multinationals Google, McDonald’s and IKEA in defending its European tax deals against E.U. lawmakers this Wednesday.

The hearing concerns whether or not giants like Apple are receiving illegally favorable tax deals, which give them an unfair advantage over local businesses.

Apple’s CFO says the company should pay ‘zero’ extra tax in Europe

By

There's still a lot of money left in iOS devices.
Apple's Chief Financial Officer thinks Apple doesn't owe the E.U. one extra cent.
Photo: Ste Smith

Despite the noise being made about big multinationals using loopholes to avoid paying tax, Apple’s Chief Financial Officer Luca Maestri has made it clear how much he thinks Apple owes as part of the European Union’s ongoing investigation.

“My estimate is zero,” he told the Financial Times. “I mean, if there is a fair outcome of the investigation, it should be zero.”

Don’t spend it all at once, E.U.!