August 29, 2016
By Dara Doyle and Stephani Bodoni
Apple (click here) was ordered to repay a record 13 billion euros ($14.5 billion) plus interest after the European Commission said Ireland illegally slashed the iPhone maker's tax bill.
The world's richest company benefited from a "selective tax treatment" in Ireland that gave it a "significant advantage over other businesses," the European Union regulator said Tuesday in its largest tax penalty in a three-year crackdown on sweetheart fiscal deals granted by EU nations.
Apple and the Irish government have both vowed to fight the decision, which also risks stoking a fight with the U.S.
"Ireland granted illegal tax benefits to Apple, which enabled it to pay substantially less tax than other businesses over many years," EU Competition Commissioner Margrethe Vestager said in an emailed statement. "This selective treatment allowed Apple to pay an effective corporate tax rate of 1 percent on its European profits in 2003 down to 0.005 percent in 2014."...
Tim Cooke stated, "You can have taxes or you can have jobs, but, you can't have both."
Well, if that is the case, Ireland should nationalize Apple's operations there. That is basically what Cooke said. He has brought an industry to Ireland that is only profitable if he pays no taxes. Why can't Ireland simply nationalize Apple's operations there and give it a new name, such as "Elstar." (click here)
October 27, 2015
CUPERTINO, California — Apple® today announced financial results (click here) for its fiscal 2015 fourth quarter ended September 26, 2015. The Company posted quarterly revenue of $51.5 billion and quarterly net profit of $11.1 billion, or $1.96 per diluted share. These results compare to revenue of $42.1 billion and net profit of $8.5 billion, or $1.42 per diluted share, in the year-ago quarter. Gross margin was 39.9 percent compared to 38 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.
The growth was fueled by record fourth quarter sales of iPhone®, the expanded availability of Apple Watch®, and all-time records for Mac® sales and revenue from services.
“Fiscal 2015 was Apple’s most successful year ever, with revenue growing 28% to nearly $234 billion. This continued success is the result of our commitment to making the best, most innovative products on earth, and it’s a testament to the tremendous execution by our teams,” said Tim Cook, Apple’s CEO. “We are heading into the holidays with our strongest product lineup yet, including iPhone 6s and iPhone 6s Plus, Apple Watch with an expanded lineup of cases and bands, the new iPad Pro and the all-new Apple TV which begins shipping this week.”
“Apple’s record September quarter results drove earnings per share growth of 38% and operating cash flow of $13.5 billion,” said Luca Maestri, Apple’s CFO. “We returned $17 billion to our investors during the quarter through share repurchases and dividends, and we have now completed over $143 billion of our $200 billion capital return program.”...
Tim Cooke stated, "You can have taxes or you can have jobs, but, you can't have both."
October 27, 2015
CUPERTINO, California — Apple® today announced financial results (click here) for its fiscal 2015 fourth quarter ended September 26, 2015. The Company posted quarterly revenue of $51.5 billion and quarterly net profit of $11.1 billion, or $1.96 per diluted share. These results compare to revenue of $42.1 billion and net profit of $8.5 billion, or $1.42 per diluted share, in the year-ago quarter. Gross margin was 39.9 percent compared to 38 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.
The growth was fueled by record fourth quarter sales of iPhone®, the expanded availability of Apple Watch®, and all-time records for Mac® sales and revenue from services.
“Fiscal 2015 was Apple’s most successful year ever, with revenue growing 28% to nearly $234 billion. This continued success is the result of our commitment to making the best, most innovative products on earth, and it’s a testament to the tremendous execution by our teams,” said Tim Cook, Apple’s CEO. “We are heading into the holidays with our strongest product lineup yet, including iPhone 6s and iPhone 6s Plus, Apple Watch with an expanded lineup of cases and bands, the new iPad Pro and the all-new Apple TV which begins shipping this week.”
“Apple’s record September quarter results drove earnings per share growth of 38% and operating cash flow of $13.5 billion,” said Luca Maestri, Apple’s CFO. “We returned $17 billion to our investors during the quarter through share repurchases and dividends, and we have now completed over $143 billion of our $200 billion capital return program.”...
