Tim Cook talks WWDC secrets, taxes, and how the iPhone could help people change the world

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Tim Cook talks to John Dickerson
Tim Cook's interview aired the day before WWDC.
Photo: CBS

Tim Cook talked taxes, WWDC secrets, and how the iPhone can play a small, but important role in changing the world for the better in an interview aired over the weekend on CBS Sunday Morning.

“I’m full of secrets and it’s hard not to overflow right now,” Cook said. “But I’ve been trained well.” On other topics, however, he was a lot more open.

European Commission could get even tougher on tech in 2020

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European Commission could get even tougher on tech in 2020
Tech giants might be in trouble next year.
Illustration: Ste Smith/Cult of Mac

The European Commission famously handed Apple a massive $14.5 billion bill in 2016. But from the sound of things it’s only going to get tougher with Silicon Valley’s biggest tech giants.

According to a new report, EU antitrust regulators are “considering taking a tougher line” against companies. This could affect the likes of Facebook, Amazon, Apple and Google.

Tech giants accused of dodging $100 billion in taxes over past decade

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International governments plan to rethink tax rules for the ‘digital age’
Report looked at Facebook, Apple, Amazon, Netflix, Google and Microsoft.
Photo: Pixabay/Pexels CC

Tech giants, including Apple, have avoided more than $100 billion in taxes over the past decade, a report claims.

British organization Fair Tax Mark looked at the 10-K filings of Facebook, Apple, Amazon, Netflix, Google and Microsoft between 2010 and 2019. On its website, Fair Tax Mark notes that tax “helps to fund vital public goods and services and when paid fairly, it ensures a level playing field for businesses large and small.”

G20 countries want to close tax loopholes for tech titans

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money
Apple is one of the tech giants which shift profits to reduce tax payments.
Photo: Ste Smith/Cult of Mac

A group of G20 finance ministers met over the weekend to discuss closing loopholes used by tech giants to reduce their corporate taxes.

The hope is that common rules across would stop companies like Apple booking their profits in low-tax countries, such as Ireland. This is currently done regardless of where end customers may be located.

Get the help of a CPA and make filing taxes easier with Visor [Deals]

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Visor offers a new way to do your taxes, using a convenient app to connect with expert advisors.
Visor offers a new way to do your taxes, using a convenient app to connect with expert advisors.
Photo: Cult of Mac Deals

The average American spends about 13 hours each year dealing with taxes. That’s a lot of work to get money you’ve already earned. For years the options were either fork over money to a tax advisor, or grind through the DIY process. A new app-based solution called Visor offers a third way.

France’s president wants to tax U.S. tech giants an extra $792 million

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Apple takes a hacksaw to estimated trade-in values for its devices
Funds could help pay some of the emergency funds Macron recently announced.
Photo: Pictures of Money/Flickr CC

Beleaguered French president Emmanuel Macron is hoping to win back public favor by putting in place tax hikes on American tech giants doing business in Europe.

France has reportedly been working with other countries in the European Union to introduce a digital tax on companies including Apple, Amazon, Facebook, and Google. The new taxes, set to be introduced in January, could pull in $792 million.

Germany’s finance minister wants tech giants to pay higher taxes

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What’s it like to have your startup bought by Apple? Stressful
The EU has long been pushing tech companies to pay more in taxes.
Photo: Ste Smith/Cult of Mac

In an op-ed for a German newspaper, Germany’s finance minister Olaf Scholz proposes a global minimum rate of corporation tax as one way to ensure that multinational corporations like Apple pay domestic taxes in line with the profits that they earn.

The European Union (EU) has long been attempting to get tech giants to stop using complex accounting tricks to shuffle profits around to minimize the amount that they pay in each country.

Apple downplays asset value in pursuit of tax rebate

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Apple Park
Apple has beef with the folks calculating its asset value.
Photo: Matthew Roberts/Maverick Imagery

Apple plays down its financial milestones these days, and there’s a good reason for that: tax.

According to a new report, Apple is one of a few companies which are “particularly aggressive” in downplaying the value of the property they own for tax purposes. Specifically, Apple thinks it’s been overtaxed on the buildings, land, lab equipment, and other expenses — and it wants to reclaim millions of dollars as a result.