165k spent on the advertising campaign.
How many Irish companies create their value in Silicon Valley?
You have an issue with the very basis of TP it seems.
Effectively, the EU are saying that little or none of the assets used by Apple Ireland resides outside Ireland and there should be very limited transfer pricing charges. Completely bonkers, and counter to everything the OECD has been trying to do with transfer pricing. Nobody sane believes the IP belongs in Cork.
Someone in the US, probably Stanford educated, sat down and worked out what sort of personal devices people would want to use in the future. They worked out what sort of hardware would be needed, they developed that hardware, they wrote code to make it all work, they designed the physical device, they built the ecosystem in which it would work (iTunes, bundled contracts with mobile operators, apps and apps store, music streaming licences etc etc), they put in place manufacturing arrangements all over the world with final assembly in China all of which they oversee in minute detail, they conducted a multi-billion $ marketing campaign for that product and, at the end of this all, some guys in Cork matched customer orders to products and sent them out.
The amounts at stake are huge as its a grab for the value of the US tech sector with EU riding roughshot over an agreement between the Irish Revenue and the US.
Depending how you want to measure these things Apple have a global effective tax rate of betwen 20 and 40% (i.e. Including employers insurance contributions) Most of it paid in the US, as it should be.
In terms of tax avoidance and morals, I would have more time for multinationals than the various Irish owned businesses gaming VAT, expenses and anything else they can get away with.
Christ almighty.
Who would employ the Oirish if it wasnāt the multinationals?
Do you work for Apple Timothy?
No. I work with facts though.
If you believe that Appleās effective tax rate is 20-40% then I have to seriously question your financial acumen. The profit number you are looking at on the financial statements is the declared US profit, on which they pay an effective rate of 26%. Less than 25% of Appleās declared profit comes from the US (which as you point out yourself is ridiculous but they have been doing everything possible to move profits offshore).
Apple do not declare their offshore profits on their Income Statement, and keep all these profits in tax havens. Thatās roughly $250 billion that they have paid effectively no tax on and refuse to repatriate to the US unless they get favorable treatment.
Their worldwide estimated effective tax rate is less than 10% (estimated by tax experts).
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Think Iāve seen this movie before or is it a sequel?
https://www.ebs.ie/blog/2015/07/why-dundalk-is-the-perfect-place-to-buy-a-house
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Aside from fulfilling your legal requirements and all the protection the law affords?
Another miracle from Noonan to the Irish peopleā¦
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We got notice today of an increase in the cost of creche. Surprise, surprise the increase starts in September and almost matches what the childcare subsidy (announced in the last budget) will be. Thick people implementing thick ideas. Wouldnāt mind but they made the same mistake with the green bin charge and caps on rental increases. Theyāre actually causing inflation with their idiotic policies.
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#capitalism
Irish Capitalism resulting in economic crashes whereby the tax payer takes on private debt.
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#free market
Not a free market when private debt is nationalised.
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#globalisation
UNINFORMEDBLUESHIRT
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#Seething Fianna Failer
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Incorrect. I never vote FG or FF.
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#lies