Apple Taxes

Apple Tells Booksellers About PST Changes in B.C.

In accordance with new tax regulations in British Columbia, Apple Books now takes a 7% provincial sales tax (PST) out of the paychecks of publishers living there — reports 9to5Mac. Apple sent a reminder detailing the change to booksellers via email on Tuesday. The company now collects and remits the PST to B.C.'s Ministry of...

U.S. Government to Reportedly Intervene in Apple’s EU Tax Appeal

Citing a source familiar with the matter, a Reuters report is claiming that the U.S. government is seeking to intervene in Apple's appeal against an EU order to pay back up to $14.8 billion in Irish taxes. The iPhone maker took its case to the court in December after the EU Commission issued the record tax demand...

Bloomberg Shares the Inside Story of Apple’s $14 Billion EU Tax Bill

Back in August, the European Union (EU) Commission ruled after two years of in-depth investigation of Apple’s tax affairs in Ireland, that the company has to pay up to $14.5 billion in back taxes to the Irish government. Today, an interesting “inside story" of Apple’s gigantic EU tax bill has been published by Bloomberg, giving out details of...

Apple May Be Able To Retrieve Overseas Cash Under Trump Tax Plan

Apple and many other technology companies could gain from President-elect Donald Trump‘s support of a one-time repatriation of U.S. companies’ corporate profits held overseas, but only if the idea get enacted by a still-Republican-held Congress, according to a report from the Financial Times. Trump has proposed a 10% repatriation tax on profits of US corporate […]

Britain, Turkey Welcome Apple After EU Tax Ruling

Earlier today, the European Commission ruled that Apple has to pay up to €13 billion ($14.5 billion) in back taxes to the Irish government, after two years of in-depth investigation of the iPhone maker's tax affairs. Following the Commission’s ruling, Britain and Turkey have both announced that they would “welcome” Apple should the company wish to relocate there...

Apple to Settle Italian Tax Dispute for $347 Million

Italian tax office has today made it official that an agreement has been reached with Apple over the issue of tax evasion between 2008 and 2013, and that the Cupertino giant has agreed to pay 318 million euros ($347 million) to settle the dispute, The Wall Street Journal is reporting. "Apple has agreed to our request," an agency...

Tim Cook: Apple Pays Every Tax Dollar We Owe

Apple CEO Tim Cook has today dismissed the notion that the tech giant was avoiding taxes in the United States, by calling it "total political crap”, Reuters reports. In an interview with CBS 60 Minutes' Charlie Rose, he stated that Apple pays every single tax dollar it owes. Apple pays more taxes than any other company because its makes the...

China Says an Apple Unit Underpaid Taxes in 2013 by $71 Million

According to a report from China's Ministry of Finance (MOF), a China unit of Apple underpaid taxes in 2013 by $71 million (452 million yuan), Reuters reports citing official news agency Xinhua. The finance ministry’s report, which comes as China toughens its stance on tax payments by foreign firms, notes that Apple Computer Trading (Shanghai) Co Ltd had already...

Apple Warns Investors of Financial Penalties in European Tax Probe

For the first time, Apple has disclosed the potential consequences of the European Commission’s ongoing investigation into its tax deals with Ireland, warning investors that it could face “material” financial penalties from the tax probe, The Financial Times reports. The Cupertino giant issued the warning in its 10-Q filing to the Securities and Exchange Commission, a day after...

‘Double Irish’ Tax Scheme Changes Won’t Affect Apple, Says Barclays

It was reported yesterday that the Irish government is planning to close the “Double Irish” tax loophole which the European Commission and US Senators have frequently mentioned while referring to Apple’s tax practices. However, according to analyst Ben A. Reitzes from investment firm Barclays, the upcoming changes are a minor issue for Apple as they won't be applied...

EU Commission Investigation Finds Apple’s Irish Tax Deal Illegal

The Irish government gave Apple and Fiat SpA illegal state support, the first stage (the "preliminary view") of the EU commission investigation has found. The second stage of the investigation could end with the companies having to pay unpaid taxes, reports the Wall Street Journal. In a letter to the Irish government published today, the...

Apple May Get a One-Time Tax Break from U.S. Senate

It seems that Apple may finally get its wish for a so-called "tax holiday" granted by the U.S. government, as both Democrats and Republicans from the Senate have reportedly said they are considering a one-time tax break, which would allow Apple to bring its $138 billion cash hoard back to America (via AppleInsider). Apple had $156 billion in cash...