By Peter Svensson | Associated Press
On Tuesday, Apple preparing financial reports second quarter results. Analysts suspect that Apple will earn a net income of $ 9.8 million . However, later reports the results will not reflect reality, because Apple keep the real profits with a tax maneuver.
Apple Inc. is the most valuable companies in the world, among other multinational companies. But its financial statements do not include the neglected asset that is worth billions of dollars that may never paid his taxes.
Tax experts say, companies can easily eliminate these false tax liability. This can increase the profits of Apple during the last three years with a value of $ 10.5 billion (approximately USD 99.62 billion) based on calculations by The Associated Press.
In the current investors will rejoice those gains, which are not directly remove a large tax liability, such measures could damage the reputation of the U.S. taxpayer.
As with other companies, Apple usually retain profits on sales abroad. When someone buys the iPad in Paris or Sydney, for example, the profits earned from the sale will remain outside the United States.
Apple may pay income tax to a country where the iPad was sold, but Apple uses different accounting calculations by transferring profits to countries with lower tax rules. Such as for example a strategy known as "Double Irish With a Dutch Sandwich", which brought his company profit through Ireland and the Netherlands and then to the Caribbean region.
When using the technique of creative tax, Apple is no different from other multinational companies, said Robert Willens, an independent accounting expert.
In the case of Apple, offshore accounts has grown by a staggering $ 74 billion (about USD 700 billion) which is equivalent to the market value of Citigroup Inc.
Apple has the obligation to pay a tax of $ 6 billion at the end of September. Based on three reports profit last quarter, the amount of money to be paid to the tax estimated to be approximately $ 10.5 billion .
"Apple has been doing business with the most ethical standards, in accordance with the law and the applicable accounting rules," Apple said in a statement.
Apple starts paying taxes on three years ago, while sales of the iPhone began to increase drastically. At that time they reported total net revenues of $ 69 billion (about USD 654.67 billion).
If Apple is applying the standards and incorporate foreign income into earnings in the U.S., it will get the $ 78 billion , or 13 percent higher.
No comments:
Post a Comment