This week, the European Union made big news by announcing that Apple owes Ireland $14.5 billion worth of back taxes. Apple, Ireland, the Obama Administration and Congress all said that was wrong. Why does Apple have to pay taxes there? It's American law. US companies can find tax havens overseas, and Irish taxes are one third of what they are here. Despite its shiny image, critics say, Apple's no different than Anheuser-Busch, Google, Starbucks or Burger King. Apple says it's taking advantage of “legal incentives,” and Washington says that's okay. But, what's the cost to small business, the middle class and the poor?
Apple, Ireland and corporate tax avoidance
More
- Kanter on the EU's saying Apple owes $14.5 billion in back taxes
- CNET on Tim Cook slamming EU's ruling against Apple
- Apple's message to the Apple community in Europe
- Tax Justice Network on the EU’s Apple decision, beginning of the end of tax wars
- De Simone on common accounting standards, income-shifting for multinational firms
Credits
Guests:
- James Kanter - New York Times - @jameskanter
- Chris Matyszczyk - Howard Raucous / CNET - @ChrisMatyszczyk
- James Henry - Tax Justice Network - @submergingmkt
- Lisa De Simone - Stanford Graduate School of Business